Evaluating monetary policy

Release date
02/11/2015
Reference
Vol. 78. No. 7. November 2015
Authors
Dean Ford; Elizabeth Kendall; Adam Richardson
Main file
Evaluating monetary policy (PDF 1008.12 KB)
ISSN
1177-8644

It is important that central banks are accountable for their conduct of monetary policy. This article outlines a conceptual framework for evaluating monetary policy based on the principles of flexible inflation targeting. A central bank should make full use of all relevant information, and learn from new information and forecast errors as these come to light.