Jamaican authorities send mixed messages on adoption of inflation targeting
Authorities say more time needed to investigate whether inflation targeting is suitable
Jamaica's latest Article IV consultation by the International Monetary Fund flags up some confusion regarding the country's move towards fully fledged inflation targeting.
The IMF says the Bank of Jamaica needs to focus on one mandate – price stability – and resist the urge to intervene in foreign exchange markets. However, the Jamaican authorities have been sending mixed messages as to whether the plans will go ahead.
In a statement earlier this year, the Jamaican government said the central
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