Description

Transparency is a central element in most aspects of the design and operation of inflation targeting regimes. This paper focuses on three elements of inflation targeting most closely associated with transparency: (i) the institutional arrangements supporting inflation targeting; (ii) the specification of the inflation target; and (iii) the central bank's policy communications. The paper is primarily aimed at providing practical advice to countries planning to develop an inflation targeting framework, but many of the issues are relevant for any credible, independent monetary policy.

Taxonomy

Banks and banking , Central banks , Economic policy , Financial institutions and markets , Fiscal policy , Monetary policy , Transparency

More publications in this series: Working Papers

More publications by: Marcel Peter ; Scott Roger ; Geoffrey Heenan