Gill Hammond: CBA can well be cited as an example for regional central banks aiming to adopt inflation targeting policy

PanARMENIAN.Net - Gill Hammond’s State of the Art of Inflation Targeting, Centre for Central Banking Studies, Bank of England edition was translated into Armenian by CBA.

As the book author notes, Armenia is among 27 sates worldwide implementing inflation targeting policy.

Dwelling on CBA activities, Gill Hammond points out, “CBA initiated inflation targeting policy in 2006. The bank adheres to sound monetary policy, and can well be cited as an example for regional central banks aiming to adopt inflation targeting policy.”

Details of the key features of the inflation-targeting frameworks in each of the 27 inflation targeting central banks around the world are published in State of the Art of Inflation Targeting handbook. These data enable to analyse the state of the art of inflation targeting: the legal and institutional arrangements; the design of the inflation target; the decision-making body and process of decision-making; the models and forecasts used by central banks; the accountability mechanisms in place, and the communication and publication strategies. The handbook was written in June 2009 and revised in January 2010.