Comment: Small steps or big bang?

A recent collection of papers published by the Bank for International Settlement (BIS) adopts a cautious line in advocating inflation targeting for poor African countries, which may lack the "preconditions" for the regime.

COMMENT BY CENTRALBANKNEWS

This view is different from that espoused by the IMF in World Economic Outlook in September last year. At a time when sentiment is turning against emerging markets, a cautious approach is surely warranted.

The BIS publication, "Central banks and the

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