Abstract
Inflation targeting is a monetary policy strategy used after 1990s in industrialized countries.Initially New Zeland used inflation targeting as a monetary policy strategy, then UK, Israel and Canada used the same policy. Macroeconomic stability, well developed financial system, central bank instrument independence, transparent policies to build accountability and credibility is needed for the success of inflation targeting. The point or interval inflation rate can be used as a target. The target would be announced by governments and/or central banks. Consumer price index or core inflation is used for price index.
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