This timely book reviews the modern literature on inflation and monetary policy, and highlights contemporary issues in the design and conduct of monetary policy for price stability in developing Asia. Akhand Akhtar Hossain surveys the evolution of central banking and provides an introduction to the structure, function and governance of central banks in selected countries in the Asia-Pacific. The author also examines the major theories, models and approaches to inflation and monetary policy and evaluates monetary policy regimes in selected countries in the Asia-Pacific in an historical context. This eloquent and comprehensible book will prove to be invaluable to undergraduate students on monetary theory and policy, as well as banking and financial courses. Researchers exploring monetary policy concepts, principles and case studies will warmly welcome this book, as will policymakers who have an interest in macroeconomics, monetary and financial policies.