Home > News and media > News > News archive > 2006 > Rethinking Inflation Targeting and Central Bank Independence


Rethinking Inflation Targeting and Central Bank Independence

Click here to download a transcript of this lecture| (PDF)

Professor Willem Buiter, chair in European political economy at LSE, will give a public lecture at the School on Thursday 26 October. He will challenge conventional wisdom in central banking - that international best practice means flexible inflation targeting by an independent central bank.

Professor Buiter will argue that such targeting risks undermining hard-earned price stability and that central bank independence is incompatible with substantive accountability. This is why for most central banks, operational independence is limited and qualified and there is no goal independence. The main exception is the European Central Bank, but its role has expanded beyond is mandate into areas where it lacks legitimacy. This risks a political backlash that could undermine its independence.

Howard Davies, director of LSE, will chair this event, which is part of 'The Future of Europe Series', hosted jointly by FT Business| and the LSE European Institute|.

Rethinking Inflation Targeting and Central Bank Independence is on Thursday 26 October 2006 at 6.30pm in the Old Theatre, Old Building, LSE, Houghton Street, London WC2A. This event is free and open to all with no ticket required.


To reserve a press seat, please contact Jessica Winterstein, LSE Press Office, on 020 7955 7060 or email j.winterstein@lse.ac.uk| 


The next event in the Future of Europe series will take place on Monday 30 November with a lecture by Mihai-Razvan Ungureanu, Romanian foreign minister. For more information, click .

16 October 2006