Inflation targeting has been adopted by several countries with floating exchange rate systems, as a way to anchor inflation expectations.

通货膨胀目标制已经被一些实行浮动汇率制的国家所采用，并以此所作为给通货膨胀预期“刹车”的一种方式。

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In the absence of such a central bank, the right alternative has to be greater exchange rate flexibility and targeting of domestic inflation.

如果没有这样一家央行，正确的做法必须是提高汇率灵活性和控制国内通胀。

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If the authority appears to be targeting not just the exchange rate, but interest rates too, then the government's commitment to the peg comes into doubt.

ECONOMIST: The Hong Kong dollar: Off the peg? | The

The current stampede of industrial and emerging countries alike toward floating-cum-inflation targeting, and away from exchange-rate and monetary anchors, suggests that this combination is the only real alternative to giving up a national currency in favour of monetary union or dollarisation.

ECONOMIST: Letters

Exchange-rate flexibility (which is a prerequisite for inflation-targeting) can also bring problems.

ECONOMIST: Floating with an anchor