Iran's CB to Implement ‘Inflation Targeting’ Policy

With apposite monetary policy instruments at its disposal, the Central Bank of Iran is ready to implement “inflation targeting” measures, the CBI governor said. 
“Within this policy, the ‘target inflation’ approach will act as the compass guiding the CBI’s monetary and currency policies,” Abdolnasser Hemmati wrote in a note in his social media account late on Friday. 
Inflation targeting is a central bank strategy that specifies an inflation rate as a goal and adjusts monetary policy to achieve that rate. Inflation targeting primarily focuses on maintaining price stability, but is also believed by its proponents to support economic growth and stability.