The list should clarify one crucial point about inflation targeting: it entails much more than a public announcement of numerical targets for inflation for the year ahead”. Note, in particular, point 3. It is important to keep in mind that the inflation target is an alternative (not a complement) to an exchange rate target.
Mishkin and Savastano (2000), in examining the Chilean experience, noted that Chile had embraced both an inflation target and an exchange rate target (a moving band), but was always prepared to make the exchange rate target subservient to the inflation target to the extent that there was any conflict.