Haldane says inflation targeting faces its ‘most dangerous moment’
BoE chief economist says risks of inflation and fiscal dominance are both on the rise
Inflation targeting frameworks could be facing their “most dangerous moment” in their 30-year history, the Bank of England’s Andy Haldane said on June 30.
In one of his last speeches as chief economist, Haldane warned of twin risks on the horizon. Firstly, he said, the rapid recovery from the Covid crisis combined with ongoing stimulus could trigger higher inflation. Secondly, central banks may be risking fiscal dominance by failing to unwind quantitative easing fast enough.
Haldane said at
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