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Defining price stability: what should we aim for?

Craig Ebert

Published date:

01 March 1994

Reference:

Vol. 57. No. 1. March 1994

Defining price stability: what should we aim for?

This article explores many of the issues that underlay the choice of the 0 to 2 per cent inflation target in the Policy Targets Agreement as the best operational formulation of the Bank's requirement to pursue stability in the general level of prices.