Inflation Targeting in Practice

Author/Editor:

Guy Debelle

Publication Date:

March 1, 1997

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

In recent years, an inflation targeting framework for monetary policy has been adopted in a number of industrial countries. This paper discusses the practical issues that have arisen under the operation of the new framework, and highlights five features of the framework: the assignment of the target, the interaction with other policy goals, the definition of the target, accountability and the role of inflation forecasts. The economic performance of the inflation targeting countries thus far is summarized.

Series:

Working Paper No. 1997/035

Subject:

Banking Consumer price indexes Economic forecasting Inflation Inflation targeting Monetary policy Price stabilization Prices

English

Publication Date:

March 1, 1997

ISBN/ISSN:

9781451845310/1018-5941

Stock No:

WPIEA0351997

Pages:

34

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