The target is continuous from 2009. The midpoint and the band are defined for each month of the year. This means that the achievement of inflation target is watched continuously, not only at a particular point in time. The continuity also helps anchor inflation expectations in situations when a large shock pushes inflation temporarily away from the targeted level.

The target is set as a band with a midpoint. The width of the target band (±2 pp) reflects interest in the stabilization of economic activity, as it provides scope for the flexibility of monetary policy in the period ahead without any detriment to its credibility. The band indicates a comfort zone providing for the fact that there may be many small transitory shocks causing short-term volatility of inflation, but not requiring a monetary policy response.