01589cas a2200241 a 4500 AALejournalIMF001101 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451970906 1934-7456 BD-DhAAL BD-DhAAL Clifton, Eric. Inflation Targeting : What is the Meaning of the Bottom of the Band? / Eric Clifton. Washington, D.C. : International Monetary Fund, 1999. 1 online resource (24 pages) IMF Policy Discussion Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper investigates the meaning of the bottom of target bands in inflation targeting regimes. It is argued that the design of lower limits on target bands, if not done with care, can lead to a lack of transparency, potentially confusing markets about how the authorities will react to a fall in inflation. After first discussing the conceptual issues, the paper then examines the experience with target bands in New Zealand, Israel and Canada and explores how the conceptual issues have played out in practice. Mode of access: Internet IMF Policy Discussion Papers; Policy Discussion Paper ; No. 1999/008 Full text available on IMF http://elibrary.imf.org/view/journals/003/1999/008/003.1999.issue-008-en.xml IMF e-Library