... disinflationary programmes led agents to form their expectations based on timely data such as changes in interest rates and the exchange rate. Additionally, the Central Bank’s actions allowing a ... exchange rate and interest rate which are available at a high frequency and set in their anticipation of future inflation. In the framework of the model, inflationary expectations are assumed ... ollowing a price targeting strategy, that is the real exchange rate, Central Bank had to adjust its purchases and sales of foreign exchange that led to a depreciation rate in line with the inflation...