Ageing populations in advanced economies are likely to reduce inflationary pressures, Bank of Spain deputy governor Margarita Delgado said today (July 4).

“This new demographic paradigm will condition the macroeconomic context during the next decades,” said Delgado in a speech published in Spanish. “For example, the ageing of the population will cause substantial changes in the saving patterns and in the composition of investments of households and families.”

This process could have an