Central banks may be thinking wrongly about inflation – Borio
BIS economist says inflation may not always and everywhere be monetary phenomenon
In tackling the pressing question of why inflation is not responding to ultra-low unemployment rates, central banks may need to turn to new explanations, the Bank for International Settlements’ Claudio Borio said today (September 22).
Central banks probably feel that they have stepped “through the looking glass”, Borio told the audience at an event in London. While they spent much of the twentieth century battling to force inflation down, now they are battling to push it up.
“Could it be that
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