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Inflation Targeting in Emerging Economies

Event start date: 26.11.2021 13:00

Event end date: 26.11.2021 19:00

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On 26 November 2021, the National Bank of Ukraine hosted a Workshop “Inflation Targeting in Emerging Economies”. The workshop brought together over 170 economists, experts, and policymakers from central banks, academia, think tanks, and international financial institutions to discuss the experience of IT in emerging markets and draw lessons for future challenges.

Five Key Takeaways:

  • Inflation targeting proved to be an effective monetary framework for delivering macroeconomic stability in the emerging markets
  • Adherence to price stability is crucial for anchoring inflation expectations and gaining credibility
  • Unlike in previous crises, emerging markets were able to respond to COVID-19 pandemic countercyclically
  • Central banks cannot afford to lose the credibility they have earned and ignore the current surge in inflation
  • Inflation targeting is not a panacea – structural reforms, fiscal discipline, and central bank independence are also essential.