ABSTRACT
Over the past decade, a number of countries have adopted an inflation-targeting framework for the conduct of monetary policy. The majority have been industrialised countries, although Chile and Israel have also pursued some form of inflation targeting for the best part of ten years. In part spurred on by the successful economic performance of the countries that have adopted inflation targets, and in part driven by concerns about their policy frameworks in the aftermath of the East Asian crisis, a number of emerging market economies are seriously considering, or have recently adopted, inflation targeting.
