Requirements for Using Interest Rates As An Operating Target for Monetary Policy: The Case of Tunisia

Alain Durré (), Bernard Laurens and Alexandre Chailloux

No 2009/149, IMF Working Papers from International Monetary Fund

Abstract: This paper discusses the use of interest rates as the operating target for monetary policy in Tunisia and the roadmap for establishing the other building blocks of an inflation targeting framework. It argues that strengthening the effectiveness of the current monetary policy framework will facilitate the adoption of inflation targeting over time.

Keywords: WP; monetary policy; interest rate; monetary management; monetary operations; monetary frameworks; monetary policy decision; monetary policy implementation; IT framework; reaction function; monetary policy interest rate; monetary policy transmission mechanisms; money market interest rate; nominal exchange rate; gradual adjustment; Money markets; Exchange rates; Monetary base; Inflation; Monetary policy instruments; Global; Middle East (search for similar items in EconPapers)
Pages: 45
Date: 2009-07-01
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Citations: View citations in EconPapers (7)

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