Journal Article
What is the right inflation rate?
Abstract: The primary objective of most of the world's central banks these days is to keep inflation low, and the range of inflation rates banks find acceptable appears to be around 2.5 to 3.5 percent. While banks may have hit on this range through trial and error, economic theory and empirical observations suggest a good reason for it.
Keywords: Inflation (Finance); Banks and banking, Central;
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Bibliographic Information
Provider: Federal Reserve Bank of Cleveland
Part of Series: Economic Commentary
Publication Date: 2003
Issue: Sep
Order Number: 2