Metas de inflação: uma análise preliminar para o caso brasileiro

Abstract

The tendency of a monetary policy designed to search for price stability has induced the adoption of inflation targets in several countries. The main characteristic ofthis monetary regime, is the announcement of official target ranges for the inflation rate at short and middle term horizons. The present paper analyzes the main discussions that guide the analysis concerning inflation targets. Thus, several questions are analyzed in the paper: the importance of credibility; the advantages from the increase of the transparency of the monetary policy; the difficulty in the attainment ofthe planned targets; and the results ofsome empirical evidence about inflation targets. Last but not least important, it is a preliminary analysis of the Brazilian case.