 Inflation Targeting LiteNo 2003/012, IMF Working Papers from International Monetary Fund Abstract: Inflation targeting lite (ITL) countries float their exchange rate and announce an inflation target, but are not able to maintain the inflation target as the foremost policy objective. This paper identifies 19 emerging market countries as practitioners of ITL. They seem to focus mainly on bringing inflation into the single digits and maintaining financial stability. ITL can be viewed as a transitional regime aimed at buying time for the implementation of the structural reforms needed for a single credible nominal anchor. The important policy challenges for an ITL central bank include whether or not to precommit to a single anchor. Keywords: WP; ITL country; inflation target; ITL central bank; monetary policy regime; Policy formulation; Monetary policy framework; inflation targeting; central bank; price stability; FFIT country; currency government debt rating; FXR regime Transparency; FFIT regime; emerging market country central banks; FXR country; Inflation; Exchange rates; Emerging and frontier financial markets; Open market operations; Africa; Global (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:2003/012 Ordering information: This working paper can be ordered from Access Statistics for this paper More papers in IMF Working Papers from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC. |
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