Israel’s Fischer on inflation targeting
The essential achievement of the inflation targeting approach, a relatively new one in economic history, is stable long-run inflation expectations, Stanley Fischer, the governor of the Bank of Israel, said on Wednesday.
"In most of the period since 2004, inflation expectations in Israel several years forward have been around the midpoint of the target range. That is no small thing, and it affords the economy important advantages," Fischer said. "For example, it leads to stable real long-term
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