IMF Working Papers

Country Experiences with the Introduction and Implementation of Inflation Targeting

Author/Editor:

Inci Ötker ; Charles Freedman

Publication Date:

July 1, 2009

Electronic Access:

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Summary:

This is the tenth chapter of a forthcoming monograph entitled, "On Implementing Full- Fledged Inflation-Targeting Regimes: Saying What You Do and Doing What You Say." It describes the experiences of a number of countries with the introduction and implementation of inflation targeting regimes. It discusses their motivation for introducing IT; how they fared in meeting the various conditions that some have argued are needed in advance of introducing IT; how they transitioned to a full-fledged IT framework and coordinated their preparations with other economic policies and reforms; the benefits they gained by adopting IT; the challenges they faced in implementation; and the lessons from their experiences.

Series:

Working Paper No. 2009/161

Subject:

Exchange rate arrangements Exchange rates Inflation Inflation targeting Short term interest rates