Inflációkövetés

Inflációkövetés, a Hungarian term meaning inflation targeting, is a monetary policy strategy used by central banks to manage inflation. In this framework, the central bank publicly announces a specific inflation rate that it aims to achieve over a certain period. The primary goal of inflation targeting is to anchor inflation expectations and promote price stability, which is considered crucial for sustainable economic growth.

When a central bank adopts an inflation targeting regime, it typically focuses on adjusting its main policy interest rate as its primary tool. If inflation is projected to rise above the target, the central bank may increase interest rates to cool down the economy and curb price pressures. Conversely, if inflation is expected to fall below the target, the central bank might lower interest rates to stimulate economic activity.

The effectiveness of inflation targeting depends on several factors, including the central bank's independence, its credibility with the public, and the transparency of its communication. Clear communication about the central bank's goals, strategy, and assessments of the economic situation helps to guide expectations and build confidence in the policy. While inflation targeting has been widely adopted by many developed and emerging economies, its success can vary depending on the specific economic context and the institutional framework in which it operates.