-term inflation objectives. In the long term, monetary policy is most effective in achieving its objectives when the inflation target … is changed in response to the new economy and when the monetary authority attempts to stabilize both inflation and output … for in changing the assessment of the potential growth rate and the inflation target. …

Inflation targeting (IT) has become the dominant monetary policy framework around the world and most of the countries … member countries' readiness to adopt inflation targeting regime as recommended by the Authority of Heads of State and … dominance, weak fiscal positions, and external shocks which impaired its ability to sustainably subdue inflation to the desired …