Back İnflyasiyanın hədəflənməsi Azerbaijani Inflationsmålsætning Danish Inflación objetivo Spanish Ciblage d'inflation French Inflációs célkövetés Hungarian Գնաճի նպատակադրում Armenian Inflation targeting Italian インフレターゲット Japanese 물가안정목표제 Korean Таргетирање на инфлацијата Macedonian
In macroeconomics, inflation targeting is a monetary policy where a central bank follows an explicit target for the inflation rate for the medium-term and announces this inflation target to the public. The assumption is that the best that monetary policy can do to support long-term growth of the economy is to maintain price stability, and price stability is achieved by controlling inflation. The central bank uses interest rates as its main short-term monetary instrument.[1][2][3]
An inflation-targeting central bank will raise or lower interest rates based on above-target or below-target inflation, respectively. The conventional wisdom is that raising interest rates usually cools the economy to rein in inflation; lowering interest rates usually accelerates the economy, thereby boosting inflation. The first three countries to implement fully-fledged inflation targeting were New Zealand, Canada and the United Kingdom in the early 1990s, although Germany had adopted many elements of inflation targeting earlier.[4][5] As of 2024, inflation targeting has been adopted by 45 individual countries and the Euro Area as their monetary policy framework.[6]
- ^ Coy, Peter (7 November 2005). "What's The Fuss Over Inflation Targeting?". BusinessWeek. No. The New Fed. Archived from the original on 28 July 2011.
- ^ Jahan, Sarwat. "Inflation Targeting: Holding the Line". International Monetary Funds, Finance & Development. Retrieved 28 December 2014.
- ^ Fisher, Irving (1922). . In Chisholm, Hugh (ed.). Encyclopædia Britannica (12th ed.). London & New York: The Encyclopædia Britannica Company.
- ^ Cite error: The named reference
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bankofengland.co.ukwas invoked but never defined (see the help page). - ^ Zhang, Zhongxia (1 August 2025). "Inflation targets, bands, and track records: a dataset of inflation targeting countries". Data in Brief. 61: 111753. doi:10.1016/j.dib.2025.111753. ISSN 2352-3409.