households, price-level targeting can act as a powerful built-in stabiliser through automatic shifts in inflation expectations … support capital accumulation by protecting the long-run purchasing power of money and reducing the inflation risk premium … price-level targeting can be undermined if central banks are not fully credible. Besides, aggressive inflation targeting can …

deep recession; the exchange rate has plunged; capital flows have been frozen; inflation is elevated; public debt has risen … déprécié ; les mouvements de capitaux se sont interrompus ; l’inflation est forte ; la dette publique a augmenté ; des sources …

preserve the hard-won anchoring of inflation expectations and dissipate any hypothetical fears that central banks? greater risk …, des anticipations d'inflation et d'éviter une situation hypothétique dans laquelle le public craindrait que la plus grande …

, the central bank shifted from implicit to explicit inflation targeting in 2006 and set a medium-term inflation target of 4 …%, applicable from end 2007. However this objective faced with two important challenges. On the one hand, inflation inertia settled … in and non-tradable inflation stagnated at more than 10%, further fuelled by persistent surge in global commodity and …

resilient to external shocks. Enhancing the credibility of the inflation target would provide the monetary authorities with more …. Améliorer la crédibilité de l’objectif d’inflation donnerait aux autorités monétaires plus de latitude pour réagir aux chocs …

reduce inflation and limit the real appreciation of the rouble. Given the strength of Russia’s balance of payments during the … interventions which were only partially sterilised. As a result, inflation remained persistently high. During the global financial … greater exchange rate flexibility should be permitted since (i) commodity exporting countries can successfully run inflation …

In recent years, inflation in the euro area has failed to decelerate decisively while cyclical slack built up in the … analysis conducted on two decades of quarterly data covering 17 countries yields a yes on both counts. First, inflation is … de l'inflation dans la zone euro<BR>Au cours des dernières années, l’inflation ne s’est pas ralentie de manière sensible …