Documenting the goals for monetary policy: some cross-country comparisons

Release date
15/10/2014
Reference
Vol. 77. No. 5. October 2014
Authors
Amy Wood; Michael Reddell
Most central banks in advanced economies use published inflation targets to guide the day-to-day conduct of monetary policy. This article reviews the quite considerable differences in how various countries, which use quite similar operational targets, articulate what they expect from a central bank’s monetary policy.