Sentences with phrase «inflation targeting regime»

The strategies for achieving these broad macroeconomic objectives include the following: • Promoting inclusive growth without compromising fiscal consolidation; • Anchoring fiscal policy on reducing the fiscal deficit to low and sustainable levels, sufficient to reduce the overall public debt burden; • Strengthening the inflation targeting regime and pursuing complementary monetary policy to promote monetary discipline; and • Pursuing complementary external sector policies to ensure exchange rate stability and favourable current account balance.

However, the pace of easing should take into account the presence of external risks and the need to build credibility under the newly introduced inflation targeting regime.

The inflation targeting regime has been a success in Australia, as it has in other countries that have adopted this approach.

Not exact matches

It is durable; in contrast to other monetary regimes, no country has been forced to abandon an inflation - targeting regime.

Finally, in a nominal GDP targeting regime, a decline in r - star caused by slower trend growth automatically leads to a higher rate of trend inflation, providing a larger buffer to respond to economic downturns.

The inflation - targeting regime we have today is an outgrowth of that experience.

Increased communication and transparency is beneficial for any monetary policy framework but it has played a particularly prominent role in inflation - targeting regimes.

From the inception of the inflation - targeting regime, the press releases have made explicit reference to the inflation target as the primary justification for the monetary policy decision.

While inflation - targeting regimes share a number of similarities, most importantly the focus on an inflation rate as the objective of monetary policy, there are a number of differences in terms of their practical implementation.

In addition, the policy credibility that had built up since the adoption of the inflation - targeting regime also allowed the Reserve Bank greater flexibility in its policy response.

In that same interview, he seems to be reaching to square these contradictions, by suggesting that the Fed's current model — targeting 2 % inflation, a Fed funds rate of ~ 3 %, and an unemployment rate of ~ 5 % — is not reliable and that they should maybe move to a different targeting regime, like price - level or nominal GDP targeting.

Our inflation - targeting regime will help facilitate these adjustments.

Given these complications, the Bank is looking at how we measure core inflation as part of our regular review of our inflation - targeting regime.

Under Canada's inflation - targeting regime, inflation expectations have been very well anchored, even during the global financial crisis and subsequent recession.

I have talked about this at length elsewhere, and I am sure that informed people are well acquainted with the current monetary policy regime in Australia, which is based on an inflation target, an independent central bank and a floating exchange rate.

Many emerging countries could benefit from moving to this generic type of regime, and to help this process, we need a vigorous debate about when to intervene (and, more importantly, when not to); what role interest rates and inflation targets might play; and what additional measures might help to handle large and volatile capital flows.

By the mid 1990s, then, the consensus seemed to be that the right regime was some sort of inflation target agreed between a government and the central bank (if not set out in legislation), operational independence for the central bank in pursuing the target, and a system of communication and accountability.

The President highlighted some of the obstacles to realizing the roadmap for the implementation of a single currency in the sub-region to include, diverse and uncertain macro — economic fundamentals of many countries, unrealistic inflation targeting based on flexible exchange rate regime and inconsistency with the African Monetary Co-operation Programme.

We have an inflation - targeting regime which has served this country well and provided stability.

Given these complications, the Bank is looking at how we measure core inflation as part of our regular review of our inflation - targeting regime.