In Africa, a number of countries like South Africa have adopted inflation targeting. In Nigeria, different monetary … policy regimes have been adopted over the years with rather unsatisfactory success. This study examines inflation targeting … 2016. The study unravels evidence of a significant response of inflation and squared inflation to policy interest rates in …

announced inflation targets. The study estimates the Bank of Ghana's policy responses over the inflation targeting period using … the Taylor rule. We find that the Bank of Ghana reacts asymmetrically to inflation gap below and above the estimated … inflation threshold of 16.4% with considerable inflation accommodation instead of targeting it. We question the logic behind the …