IMF calls for transparency on inflation

The IMF's chief economist Kenneth Rogoff questions the long-term inflation objectives of the Fed, ECB and Bank of Japan asking why they are so reluctant to speak about the subject. Would a bit more transparency hurt, he asks.

First published in the Financial Times, 23 April 2003. The writer, Kenneth Rogoff, is chief economist of the International Monetary Fund.

Even those of us who are not inflation-targeting fanatics are starting to wonder why the G3 central banks (Bank of Japan, the European

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