The idea that each country should be allowed to choose its own inflation rate is called the Monetary Autonomy argument.
Monetary autonomy is the independence of a country to decide its own money supply and the conditions of domestic economy through its central bank. A central bank of a country is free to control the money supply in the country and this is in accordance with the floating exchange system.
The countries which have monetary autonomy can decide and plan better strategies and plans to steer their domestic policies through the central banks of their country. It makes countries no more dependent on other nations to decide for their domestic economies and their progress.
To know more about Monetary Autonomy here
https://brainly.com/question/6426574
#SPJ4
