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State of the art of inflation targeting

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  • Gill Hammond

Abstract

Inflation targeting has been adopted by an increasing number of central banks as their monetary policy framework. At the start of 2010, some twenty seven central banks were considered fully fledged inflation targeters, and many others are in the process of establishing a full inflation-targeting framework. In this Handbook we publish details of the key features of the inflation-targeting frameworks in each of the 27 inflation targeting central banks around the world. These data enable us to analyse the state of the art of inflation targeting: the legal and institutional arrangements; the design of the inflation target; the decision-making body and process of decision-making; the models and forecasts used by central banks; the accountability mechanisms in place, and the communication and publication strategies. This handbook was written in June 2009 and updated in 2012.

Suggested Citation

  • Gill Hammond, 2012. "State of the art of inflation targeting," Handbooks, Centre for Central Banking Studies, Bank of England, edition 4, number 29, April.
    • Handle: RePEc:ccb:hbooks:29
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Forecasting banknotes;

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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