Bergo on inflation targeting with variable ex rate

In a speech on 'Inflation targeting with a fluctuating exchange rate' Jarle Bergo of Norges Bank said experience has shown that monetary authorities do not have the means to control the exchange rate. Monetary policy has nevertheless, Bergo added, been successful in keeping inflation low and stable. And it is the overall stance of monetary policy that will determine the path of inflation.

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Address by Norges Bank

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