The first version assumes that policy changes are determined by how far the funds rate is from the intermediate target
. Below we show that this expression for policy is equivalent to a policy in which the FOMC adjusts the level of the funds rate only partially to its intermediate target
(because of this equivalence, we call it the partial-adjustment level rule).
The estimated equation (7) shows that, next to the monetary base, the exchange rate was an intermediate target
of the monetary policy:
In practice, this rule would mean that the central bank uses the Taylor rule as its intermediate target
and only partially moves the level of the funds rate to this value at every meeting.
They are classified as more developed countries in the Caribbean and a common intermediate target
is applied in these economies.
There is also the question of the wisdom of an intermediate target
strategy with respect to inflation.
The intermediate target
is to detect 90 per cent of all TB cases and successfully treat 90 per cent of them by 2015.
The 60% reduction target is matched with an intermediate target
: -20% CO2 emissions in transport by 2030 compared with 2008 levels.
SBP use monetary aggregates (M2) as intermediate target
in accordance with real GDP growth and inflation targets set by the Government.
In particular, there is no intermediate target
such as narrow money growth or exchange rates that it is obliged to meet.
He said that Broad money (M2) which reflects the Net Domestic Assets and Net Foreign Assets is regard as an intermediate target
ultimately looking for stable prices with keeping an eye on the economic growth.
Maintenance of the fixed rate peg, which is the intermediate target
, ensures that the goals of price stability are achieved by importing stable inflation from the anchor country."
"A bullet tumbling in this manner is usually due to the bullet being under-sized or having been discharged from a smooth-bore barrel or from a barrel with worn rifling or having been deflected by striking or passing through some intermediate target