Over the past few years, in an attempt to sharpen their focus some Central Banks (for example Brazil, Colombia, and New Zealand) have become explicit “inflation targeters”: in this regime, they establish concrete inflation targets and commit to a certain rigid framework of announcing how they are performing3.
Trinidad and Tobago’s Central Bank was established in 1964 and its governing legislation specifies a range of objectives including to “maintain monetary stability, control and protect the external value of the monetary unit…[and] encourage expansion in the general level of production, trade and employment”. 4.