Evaluating monetary policy
Elizabeth Kendall and
Reserve Bank of New Zealand Bulletin, 2015, vol. 78, No 7, 3-21
It is important that central banks are accountable for their conduct of monetary policy. This article outlines a conceptual framework for evaluating monetary policy based on the principles of flexible inflation targeting. A central bank should make full use of all relevant information, and learn from new information and forecast errors as these come to light.
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