for establishing the other building blocks of an inflation targeting framework. It argues that strengthening the … effectiveness of the current monetary policy framework will facilitate the adoption of inflation targeting over time. …

frameworks and some have implemented or are moving towards inflation targeting (IT) regimes. Strengthening the monetary policy …

This paper analyzes the monetary policy response to rising inflation in emerging and developing countries associated … with the food and oil price shocks in 2007 and the first half of 2008. It reviews inflation developments in a sample of … of inflation; provides a synthesis of policy responses taken against the background of the conflicting objectives and …

inflation combined with a free float seems to be the ultimate option. The paper shows how to design and operationalize such a …

been based on discretionary targeting of broad money without any clear target to anchor inflation expectations. This paper … are required to strengthen the ability of the CBY in achieving low and stable rates of inflation over the medium term. …

with a lag of at least three quarters, with inflation taking seven quarters to respond. Inflation is inertial and … persistent when it sets in, irrespective of the source. Exchange rate pass-through to domestic inflation is low. Inflation turns …

to shift to inflation targeting. It first describes the changing transmission channels over the last decade. Second, the … inflation targeting over the medium term. …

Money has only limited information value for future inflation in Ghana over a typical monetary policy implementation …) are shown to be important predictors of future price changes. Inflation inertia is high and inflation expectations are … largely based on backward-looking information, suggesting that inflation expectations are not well anchored and hence more is …

This paper addresses the question of why inflation has not yet converged to price stability in Central America and the … that all central banks raise interest rates to curtail inflation but only some of them increase it sufficiently to … effectively tackle inflation pressures. It also shows that some central banks care simultaneously about exchange rate stability …