The beginning of the end for inflation targeting

This article by Wolfgang Munchau published Monday 5 June in the Financial Times says that while an inflation targeting strategy has worked well for some central banks - notably the Bank of England - it did not work out as well for others.

"The Swedish Riksbank was one of the early adopters of inflation targeting. Yet, in Sweden, the strategy has come unstuck - though in a most peculiar way," the article says.

According to Munchau the Riksbank's use of inflation targeting has produced price inst

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