BoE's Lomax on Inflation Targeting

In a speech on 'Inflation Targeting - Achievement and Challenges' given on 18 February, Rachel Lomax of the Bank of England discussed the improvement in economic performance since the adoption of inflation targets and the challenges that policy makers now face.

Speaking of the period since 1992, she comments that "Slightly miraculous as these developments may still seem to the generation that came of age during the Great Inflation of the 1970s ... the happy fact is that for anyone in their mid

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