INFLATION TARGETING POLICIES OF CENTRAL BANKS: GLOBAL EXPERIENCE

Abstract

Today, the global economy has entered a new stage of inflationary development. Inflation targeting policy is one of the main instruments of monetary policy, which is used to control price levels and ensure economic stability. The basic principle is that the central bank seeks to achieve its target inflation rate by regulating the money supply and interest rates. The purpose of this work is to characterize the methods of the inflation targeting regime in the monetary regulation of central banks. To achieve this goal, the following tasks were formulated: to characterize the inflation targeting regime, to analyze the world experience of inflation targeting, to identify goals and targeting policy instruments of central banks, to analyze the results of inflation targeting in different countries. As a result of the study, the authors identified inflation targeting tools by central banks and the consequences of their use. World experience shows that inflation targeting policies can be an effective tool for managing the economy. Russia has faced a number of economic challenges in recent years, including sanctions from Western countries, falling oil prices and economic reforms aimed at reducing the economy's dependence on the oil industry. All these factors influenced the inflation rate in the country. Despite some progress in reducing inflation, the Russian economy still faces a number of challenges, including low investment, an aging population and uneven regional development. Therefore, it is important to continue working to control inflation and develop the economy to ensure sustainable growth and improve the living standards of the population.