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Now Is Not the Time to Abandon Flexible Inflation Policies says Boc's Mark Carney

Now is not the right time to part with flexible inflation policies with "low -fo-long" said BoC's Carny to FT
He said that perusing a policy of temporary higher inflation is an uncertain and extreme response
He did not mention any C bank while referring to targeting infaltion

Quotes

"Moving temporarily to a higher inflation target risks un-anchoring inflation expectations and squandering the hard-won gains of entrenched price stability"

"Higher and more uncertain inflation raises risk premiums and real interest rates, and worsens debt dynamics,"

"Central banks are most effective when they operate with clear and stable objectives."

"The pursuit of temporarily higher inflation could only work if policy were anchored to a new target, such as nominal gross domestic product - total output at market prices, unadjusted for inflation,"

BoC's Mark Carney

Published: 2012-05-11 02:07:00 UTC+00

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May 20 at 7:07 UTC