"The government and central bank have decided their top priority is to bring inflation down".
Buying bonds would bring inflation – and that is the ECB's highest expression of sin.
Interest rates had been raised to 15% in an effort to bring inflation under control.
It took Mr Stals several painful years to bring inflation under control.
The Fed drove interest rates very high in an effort to bring inflation under control.
Oil goes to $60 and stays there, helping bring inflation down to 2%.
In 2005, the central bank hopes to bring inflation down to 5.1percentt.
Instead of working only to avoid unemployment, the Fed sought to bring inflation back under control.
It has helped countries to bring inflation down to levels that would not otherwise have been reached, they argue.
Plummeting demand will eventually bring inflation down, at the cost, perhaps, of unsustainably painful contractions around the periphery.
It would then take a much larger increase in unemployment (a more severe recession) to bring inflation down again.
