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Ciblage du taux de change versus ciblage de l'inflation. Quelle cohérence globale pour la politique monétaire de la BCEAO ?

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  • Soumaila Doumbia

Abstract

This article examines the scope of the monetary policy of the Central Bank of West African States after the new institutional reform. The analysis of the reform documents, the speech of the President of the West African Economic and Monetary Union (WAEMU) and the interview of the former Central Bank Governor show that reform, in many ways, incorporates several aspects of inflation targeting. Adopting such a strategy raises questions about maintaining exchange rate targeting. It has several implications, particularly the feasibility of the double anchorage of monetary policy and its whole consistency in this context.

Suggested Citation

  • Soumaila Doumbia, 2013. "Ciblage du taux de change versus ciblage de l'inflation. Quelle cohérence globale pour la politique monétaire de la BCEAO ?," Revue Tiers-Monde, Armand Colin, vol. 0(3), pages 183-200.
    • Handle: RePEc:cai:rtmarc:rtm_215_0183
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    Cited by:

    1. Lampe, Florian, 2022. "Interest Rate Policy of the Banque Centrale des Etats de l'Afrique de l'Ouest: International Currency Hierarchy, Monetary Base Coverage, and Bank Lending in the WAEMU," ZÖSS-Discussion Papers 76, University of Hamburg, Centre for Economic and Sociological Studies (CESS/ZÖSS), revised 2022.

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