How should governments and central banks use monetary policy to create a healthy economy? Traditionally, policymakers have used such strategies as controlling t

Over the past fifteen years, a significant number of industrialized and middle-income countries have adopted inflation targeting as a framework for monetary pol

This study reviews the literature on the contribution of low inflation to economic growth and the subsequent widespread adoption of inflation targeting as a mon

Since the financial crisis of 2008/09, the world’s major central banks have been struggling to return their economies to higher growth and to reach their infl

There is now a remarkably strong consensus among academics and professional economists that central banks should adopt explicit inflation targets and that all k