5  Norges Bank (2005) “Inflation Report” no.1/2005, March. 6  Friedman, Benjamin (1990) “Targets and instruments of monetary policy” in B. Friedman and Frank Hahn (ed) “Handbook of Monetary Economics, Vol II, “, North-Holand. 7  Blinder, Alan (1998) “Central banking in theory and practice” The MIT Press, page 49. 8  Bernanke, Ben and Frederic Mishkin (1997) “ Inflation targeting.
A new framework for monetary policy?” Journal of Economic Perspectives, 11, pp. 97-116. 2  BIS Review 53/2006  in some aspects but still allows room for exercising judgment 9 . In some circumstances, the «specific target rules» alluded to by Svensson may be nevertheless too rigid.