Fischer warns developing countries may not be ready for inflation targeting

Stanley Fischer
Stanley Fischer at the Bank of Israel. Photo by David Vaaknin.
David Vaaknin

Central banks in developing countries are "making strides" in modernising their monetary policy frameworks, but may have to wait before adopting "full-blown" inflation targeting, Federal Reserve vice-chair Stanley Fischer warned on June 30.

Fischer suggested no policy framework is "suitable for all countries for all times", and central banks must tailor them according to the specific challenges facing their economies and the structure of their financial markets.

"It is likely that the monetary p

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