The inflation target five years on

Quarterly Bulletin 1997 Q4
Published on 01 December 1997

By Mervyn King

Mervyn King explains the role of inflation forecasts and stresses the importance of transparency and accountability. Mervyn King concludes that inflation targets, the Bank’s Inflation Report and other aspects of the new monetary policy framework represent significant and successful developments in central bank operations in the 1990s.

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