Another way to judge the effectiveness of the monetary policy conduct under the inflationtargeting framework is to examine whether a decline in inflation persistence (or the extent of dependence of current inflation on past inflation) is observed.
Rasheed Mohammed Al Maraj: Brief review of Bahrain’s financial market developments Speech by His Excellency Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain, at the TradeQuest Challenge Awards Presentation and Luncheon, Manama, 28 April 2007. *  *  *  Your Excellencies, Distinguished Guests, Ladies and Gentlemen, Good Afternoon.