BoI’s Yaron stresses flexibility offered by inflation target range

David Vaaknin

Bank of Israel (BoI) governor Amir Yaron stressed the flexibility offered by the inflation target range to small open economies such as Israel.

In a speech on July 11, Yaron pointed out the main difference between a point target and a range lies in the commitment to the middle value. “The existence of a range gives policy-makers more flexibility in operating the policy tools while taking into account actual shocks and their source, in the state of the business cycle and the ability to operate

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