The Federal Reserve Board eagle logo links to Board's home page

International Finance Discussion Papers
The International Finance Discussion Papers logo links to the International Finance Discussion Papers home page Inflation Targeting in the 1990s: The Experiences of New Zealand, Canada, and the United Kingdom
John Ammer and Richard T. Freeman
1994-473  (June 1994)

Abstract:  We survey the recent experiences of three industrial countries -- New Zealand, Canada, and the United Kingdom -- that have announced specific targets for inflation. Despite success on the part of the targeting central banks in attaining their inflation goals thus far, bond yields suggest that long-term inflation expectations for these countries persistently tended to exceed long-term targets throughout the first several years of targeting. For New Zealand and Canada, survey data generally implied that inflation also was expected to exceed its targeted level in the near term.

Full paper(326 KB PDF)

PDF files: Adobe Acrobat Reader   ZIP files: PKWARE

Home | IFDPs | List of 1994 IFDPs
Accessibility | Contact Us
Last update: October 16, 2008