Inflation Targeting in Practice

Guy Debelle ()

No 1997/035, IMF Working Papers from International Monetary Fund

Abstract: 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.

Keywords: WP; monetary policy; inflation rate; monetary policy decision; reaction function; Inflation Targeting; Monetary Policy Framework; target band; rate of inflation; inflation targeting framework; CPI inflation rate; monetary policy credibility; monetary policy statement; target inflation rate; inflation target band width; inflation expectation; monetary policy response; Inflation; Consumer price indexes; Price stabilization; Australia and New Zealand (search for similar items in EconPapers)
Pages: 34
Date: 1997-03-01
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Citations: View citations in EconPapers (61)

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Book: Inflation Targeting in Practice (1998)
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