Comments: Rachel Lomax on the Great Stability

If this 'extreme' reaction to modest deviations in inflations is the price we have to pay for well anchored long-run inflationary expectations, surely it is a price worth paying. My only worry would be if it prompted over-reaction in policy response from the Bank itself, but I doubt that would ever happen.

Posted by Caravaggio at March 3, 2007 03:06 AM
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