Some argue that a transparent monetary policy should signal an impending decision to market participants before the next Monetary Policy Meeting. I do not think so. De facto announcement of the future level of the policy interest rate means disregarding the changes in economic conditions after such an announcement.
It seems important to communicate the basic rationale behind the conduct of monetary policy with regard to the economic situation of the time. This also applies to the discussion of inflation rate targeting. Japan not long ago experienced a period of some years of decline in consumer prices.