DP7213 Transparency under Flexible Inflation Targeting: Experiences and Challenges

Author(s): Lars E.O. Svensson
Publication Date: March 2009
Keyword(s): Inflation targeting, interest rate path, transparency
JEL(s): E42, E43, E52, E58
Programme Areas: International Macroeconomics
Link to this Page: cepr.org/active/publications/discussion_papers/dp.php?dpno=7213

I report some personal views and reflections on transparency experiences and transparency challenges following my first year and a half as Deputy Governor at Sveriges Riksbank regarding (1) flexible inflation targeting, (2) the role of transparency in inflation targeting and committee decisions on instrument-rate paths, (3) the management of interest-rate expectations, and (4) the publishing of attributed minutes. I also mention some future developments and improvements in transparency and flexible inflation targeting that I believe would be desirable.