Much as there is no one correct way of implementing inflation targeting, as there are various nuances depending on individual country circumstances, it can be safely argued that it is the consensus position when it comes to monetary policy frameworks. Among the most recent central banks to move in this direction are Bank of Japan and US Federal Reserve System.
1  Featuring a reduction in macroeconomic volatility, of both output and inflation  2  Germany is known for having adopted many elements of inflation targeting earlier than 1990  3  Central Bank News, The Central Bank Inflation Targeting Report Card for 2011  BIS central bankers’ speeches  1  Inflation targeting was thus presented as the primary mandate of central banks, although in reality even without an explicit inflation target, ultimately all central banks are concerned with inflation.