7 Targeting Inflation: The United Kingdom in Retrospect
Author:
Andrew Haldane
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Language:
English
Print Publication Date:
21 Aug 2000
Keywords:
BOOK; inflation expectation; monetary policy; inflation targeting framework; inflation variability; inflation shock; inflation outcome; U.K. general public; Inflation targeting; Inflation; Exchange rates; Return on investment; Yield curve

Abstract

When it adopted inflation targeting in September 1992, the United Kingdom had involuntarily exited from its fixed exchange rate regime and had experienced a sharp currency depreciation as a result. The macroeconomic background was one of high and rising inflation expectations but a contracting real economy. The initial conditions for inflation targeting were not, therefore, particularly propitious.

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Cover Inflation Targeting in Practice
Inflation Targeting in Practice
Strategic and Operational Issues and Application to Emerging Market Economies
ISBN:
9781557758897
Publication Date:
21 Aug 2000
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781557758897.071
Pages:
108