The six-member Monetary Policy Committee (MPC), comprising equal internal and external representation, is tasked with maintaining CPI-based inflation at 4% ±2% over a five-year horizon. Since the implementation of the Flexible Inflation Targeting (FIT) framework in October 2016, inflation has averaged 5%, overshooting the target in 67 of 94 months. Pre-FIT, from January 2012 to September 2016, headline inflation averaged 7.3%. #MonetaryPolicyCommittee #InflationTargeting #CPIInflation #FITFramework #EconomicPolicy #CentralBanking #InflationControl #FinancialStability
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