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; credibility and transparency; the inflation forecast and the loss function; monetary policy experiences in the US and the UK; the … of words in central banking : inflation, targeting, credibility and transparency -- 4. The inflation forecast and the …
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Inflation in advanced economies is low by historical standards but there is no threat of deflation. Slower economic growth is caused by supply-side constraints rather than low inflation. Below-the-target inflation does not damage the reputation of central banks. Thus, central banks should not...
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