Comment: Comparing policy structures

The IMF yesterday released a working paper surveying the governance and decision-making structures of inflation-targeting central banks.

COMMENT BY CENTRALBANKNET

The survey focuses on four aspects: who sets the inflation target and how is the mandate treated in a legal sense, what does the composition of the monetary policy committee look like, the timing of interest rate decisions and the communication thereof; and finally, which mechanisms are employed to enhance transparency and accountability

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