Moving towards Domestic Monetary Policy Anchors — Are Financial Markets Ready in the Mediterranean Region?

Thierry Bracke

Chapter 2 in Inflation Targeting in MENA Countries, 2011, pp 17-36 from Palgrave Macmillan

Abstract: Abstract Most central banks in the MENA region have over recent years and decades pursued monetary policy strategies based on external anchors. The exchange rate acts as a nominal anchor for monetary policy across most of the Mediterranean region and in all of the Gulf countries. That said, some central banks are gradually abandoning their exchange rate targets and moving towards — or considering a move towards — domestic monetary policy anchors. The central banks of Israel and Turkey follow an inflation targeting (IT) approach already, while the central banks of Egypt, Morocco and Tunisia have taken steps to prepare for the gradual adoption of such an approach.

Keywords: Monetary Policy; Euro Area; Banking Sector; Financial Stability; Inflation Target (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-31656-0_2

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DOI: 10.1057/9780230316560_2

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