that it is willing to accept a transitory period of moderate inflation overshoot in its efforts to push inflation upwards … employing a simple Phillips curve model. The results point to the conclusion that the average inflation rate over the business … strategy seems therefore justified to realign inflation and inflation expectations with the target rate. …

inflation, but despite their efforts, core inflation remains stubbornly below the desired two per cent. However, central banks …

below the ECB’s inflation target. Therefore, a readjustment of the infl ation target seems unjustified. Furthermore, as the … ECB can expect inflation to return to its target, it possibly can accelerate tapering its unconventional monetary policy …

After almost four decades of price stability, inflation has recently approached historical highs. Initially driven by … global energy and food price increases, the magnitude of the surge in inflation caught central banks and markets by surprise … monetary policy tightening, inflation upside risks are large. How can central banks restore control – and with it their own …