While there are differences in some of the features across countries, the similarities are more pervasive than the differences. And generally, the features of inflation-targeting frameworks have tended to converge over time. It is interesting to firstly examine how the inflation-targeting framework in Australia has evolved over the 25 years. Secondly, it is also timely to reassess the appropriateness of the regime.
The countries of the OECS, of which the ECCU is an integral part, have signaled their intention to establish an Economic Union in response to these various challenges. The Economic Union, as conceived, will create new political arrangements to support a single financial and economic space.