EIRP Proceedings, Vol 4 (2009)
Monetary Policy Challenges - Inflation Targeting Strategy and the Process of Euro Adoption
Abstract
This paper is a review of some of the challenges for the monetary authorities in countries which adopted an inflation targeting strategy, and which are also intending to adopt Euro. Both the increasing mobility of capital flows and the preparations for entering ERM II are constraints for such a monetary strategy. Since September 2008, the financial crisis, having burst into the developed countries, has also affected the Central and Eastern Europe countries, and this phenomenon represents another challenge for the monetary authorities.
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