Indeed, we have been easing monetary conditions for more than a year with exactly that objective in view. Having said that, we also need to be mindful of the risks in ignoring the long lags with which monetary policy works. If we ignore those lags, we run the risk of making economic cycles worse.
Alan Blinder, former vice-chairman of the Federal Reserve Board, sometimes uses the analogy of the thermostat. Who has not checked into a hotel room and turned up the heating because the room is too cold? Then, after having a shower, turned the heating up some more 3  ‘Pioneering price level targeting: the Swedish experience 1931-1937’, by Claes Berg and Lars Jonung.