Monetary Regime Transition in the Emerging World
Many central banks in the developed world appear set to replace inflation targeting with nominal-GDP targeting as their monetary-policy anchor. But, while central banks in emerging-market economies have had problems with inflation targeting from the outset, moving to nominal-GDP targeting solves none of them.
https://prosyn.org/9fjQAde
SANTIAGO – Is inflation targeting – the rule that most of the world’s major central banks (though not the United States Federal Reserve) use to set interest rates – in its death throes? Many analysts seem to think so.