Inflation Targeting as a Part of Monetary Policy
The article deals about the basic assumptions of successful inflation targeting which is a strategy of monetary policy of central banks of Slovak Republic. Slovakia wants to (and also must,) enter the EMU, when it accomplish Maastricht criteria of nominal convergence and will be able to keep its positive development in economic area for a long time period. Criteria of low inflation make a lot of problems, so the National Bank of Slovakia tries to manage it the best it can. Inspired by successes of some other countries (New Zealand, Great Britain and Czech Republic, too) NBS has changed its monetary policy to inflation targeting in order to fulfil mid-term goal ant achieve nominal inflation rate in Slovakia under the level, which is average level of inflation in three countries of EMU with the lowest inflation rate during last 12 months increased maximum +1,5%. (original abstract)
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