No. The Bank sets a quantitative objective range for inflation in the medium term that guides its monetary policy decisions. However, this does not meet all the elements of inflation targeting. These typically include a more explicit framework and price stability mandate to ensure clarity and accountability. In addition, the central bank must have full operational independence, including giving precedence to the inflation target over other objectives such as a target for the exchange rate. While these conditions are not fully met at present in Botswana, it is judged that the current framework remains appropriate given the prevailing circumstances. (See also basics of monetary policy and monetary policy framework.)