A recent survey by the BIS counts seven inflation targeters, making this currently the most numerically popular regime among medium-sized OECD countries (Table 2). As had been the case with previous regime changes, the immediate reason for change in many cases was either a breakdown of a previous regime or dissatisfaction with its performance.
In the United Kingdom, Sweden and Finland, the trigger was the collapse of fixed exchange rate commitments in 1992. New Zealand and Canada adopted their targets in a deliberate strategy of inflation reduction.