In 2002, the Central Bank adopted a modern monetary policy strategy, namely the “inflation targeting regime”. During the implementation of the implicit inflation targeting regime of the 2002–2005 period, the Bank tried to lay the basis for the regime by ensuring the necessary pre-conditions, strengthened its technical and institutional infrastructure, developed estimation models and expanded its data set. During this process, the Research Department was restructured as the Research and Monetary Policy Department and the Communications Department was set up to ensure effectiveness of communications policies.