The purpose of this paper is to answer the question of whether the switching to the Inflation Targeting (IT) regime is necessary for the Egyptian case or not? Our judgment of applying IT regime in the Egyptian economy is established on doubled criterion. That is, the practical experience of the...

2008 global financial crisis, as well as all over the world, our country also affect the rate of inflation was decreasing. The following factors have been effective in the severe decline in inflation experienced: the contraction in domestic demand, the contraction in external demand, the decline...

This article presents a comparative study of central paths' projections of Consumer Price Index (CPI index), core inflation and monetary policy-relevant inflation measure (MPRI) in the central banks of Sweden, Norway and Czech Republic. The analysis refers to the possibility of using core and...

The purpose of this paper is to investigate the effectiveness of the central bank's policy rate on market interest rates in Turkey for the inflation-targeting period. Empirical evidence suggests that (i) all interest rates respond to a positive policy rate shock positively for all periods and...

Monetary policy makers need to build two pillars for their inflation targeting strategy. Firstly, a methodology for producing the central forecast should be developed, since the whole decision process is more easily organised around a model forecast. Secondly, a methodology for dealing with...

In this note we describe, in substantial detail, the methodology behind the construction of NBP's fan chart. This note is meant to help the readers interpret information contained in the mid-term projection, understand the differences in the predicted uncertainty between the projection rounds,...

The central banks of Canada, New Zealand, Australia, and the US seem to have adopted somewhat different approaches to controlling inflation. This paper focuses on the empirical issue of whether a particular central bank can be said to be implementing a "strict" or a "flexible" inflation...

This paper examines the value of direct communication to households about inflation and the uncertainty around inflation statistics. All types of information about inflation are effective at immediately managing inflation expectations, with information about outlooks being more effective and...

This paper analyses the implications of cost-push shocks for the optimal choice of monetary policy target in an two-country sticky-price model. In addition to cost-push shocks, each country is subject to labour-supply and money-demand shocks. It is shown that the fully optimal coordinated policy...