The classification has now been updated to cover the years 2018-23 as well as 1974-2017.
The Countries and Classifications pages now present the updated materials, and the Visualisations page will shortly cover the new extended period. The changes over time are relatively limited: over 90% of countries have the same classification from 2018 as in the five or so preceding years. The most striking changes are that inflation targeting rises from 23.6% of countries in 2008-17 to 28.2% in 2018-23 (on the target variable aggregation, excluding countries that no longer exist, use of another sovereign’s country and currency union membership), while loosely structured discretion falls from 41.8% to 38.3%.
The following chart shows the changes over time in terms of the target variable aggregation, with the updating period to the right of the vertical black line:
The previous classifications and country details (in groups rather than by individual countries) can now be found on the Archive page.
It should be noted that in the revision and updating process a small number of changes have been made to the previous classification, as follows:
Albania 2000-04 is now classified as LSD in place of LIT
Bolivia 2012-17 is now AERF in place of LSD
Botswana 2013-17 is now LERT in place of LSD
Guatemala 2010-17 is now FIT in place of LIT
Guyana 2014-17 is now AERF in place of LSD
Hungary is now LCIT in 2007 and LIT from 2008
India 2017 is now LIT in place of FIT
Indonesia 2015-17 is now FCIT in place of LCIT
Iraq 2007-17 is now AERF in place of LSD
Kenya 2013-17 is now LIT in place of LSD
Nepal 1993-2017 is now AERF in place of LERT
Thailand 2010-14 now LIT in place of FIT
Uruguay 2017 is now LIT in place of LSD
Zimbabwe 2015-17 is now LSD in place of UD
In addition, Latin America and the Caribbean have now been combined in one group.
Monetary Policy Frameworks 