BoI’s Yaron stresses flexibility offered by inflation target range

Bank of Israel has been studying the possibility of modifying its inflation target

bank-of-israel2
David Vaaknin

Bank of Israel (BoI) governor Amir Yaron stressed the flexibility offered by the inflation target range to small open economies such as Israel.

In a speech on July 11, Yaron pointed out the main difference between a point target and a range lies in the commitment to the middle value. “The existence of a range gives policy-makers more flexibility in operating the policy tools while taking into account actual shocks and their source, in the state of the business cycle and the ability to operate

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