My belief is that the additional accountability that comes with a formal inflation target has been the main driver of the transparency trend seen here and at other central banks. Adjusting the Paradigm Now, just because inflation targeting has worked very well, that does not mean it cannot be improved.
My special welcome to the young students whose participation would undoubtedly make today’s programme more lively, vibrant and enriching. Thank you all so very much indeed! 2  BIS Review 40/2010