Ingves:The inflation target and monetary policy
Introduction Discussing monetary policy at the Swedish Economics Association has become something of a tradition. I very much appreciate being invited to initiate this evening’s debate and I hope you will find the discussion stimulating. I would like to take the opportunity to discuss the general foundations for monetary policy. I will mainly focus on how a policy of inflation targeting can and should take into account developments in the real economy. From time to time it is claimed in the general debate that the Riksbank's inflation target needs to be supplemented by various targets for