Sterilized foreign exchange interventions under inflation targeting

dc.contributor.author	Ostry, Jonathan David, 1962-
dc.contributor.author	Ghosh, Atish R.
dc.contributor.author	Chamon, Marcos
dc.date.accessioned	2019-11-01T00:07:13Z
dc.date.available	2019-11-01T00:07:13Z
dc.date.issued	2015
dc.description	Inflation targeting needs exchange rate flexibility. If the policy interest rate is geared to achieving the inflation target the central bank must be willing to accept the resulting exchange rate. Simply put if the central bank has both an inflation target and an exchange rate target the private sector will not know which will take precedence in cases where they conflict at most therefore the central bank should react to exchange rate movements only to the extent that they affect expected inflation.
dc.file.name	BCCh-sbc-v20-p223_244
dc.format	.pdf
dc.format.extent	Sección o Parte de un Documento
dc.format.medium	p. 223-244
dc.identifier.isbn	978-956-7421-47-3
dc.identifier.uri	https://hdl.handle.net/20.500.12580/3817
dc.language.iso	eng
dc.publisher	Banco Central de Chile
dc.relation.ispartof	Series on Central Banking Analysis and Economic Policies no. 20
dc.rights	Attribution-NonCommercial-NoDerivs 3.0 Chile	*
dc.rights.uri	http://creativecommons.org/licenses/by-nc-nd/3.0/cl/	*
dc.subject	TIPO DE CAMBIO	es_ES
dc.subject	INFLACIÓN	es_ES
dc.subject	BANCOS CENTRALES	es_ES
dc.title	Sterilized foreign exchange interventions under inflation targeting
dc.type.doc	Artículo

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