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And the European Central Bank has only one mandate: keep inflation low.
This will require services prices to fall sharply in the west to keep inflation low.
Provided people believe in the Fed's determination to keep inflation low, inflation expectations will stay low.
It helps to keep inflation low and boosts imports of capital goods.
This consensus holds that central bankers' prime task is to keep inflation low and stable.
Some of that fall is feeding through to fuel prices and should help keep inflation low in the UK.
THE strong dollar, which for many years has helped keep inflation low and foreign vacations cheap, is weakening.
The bank's primary mandate is to keep inflation low, but that does not stop European politicians from worrying about growth.
That helped to keep inflation low without harming exports.The benign period ended in the autumn of 2007.
Those responsibilities are likely to conflict even more than the traditional tension between the Fed's dual mandate to keep inflation low and promote full employment.
Instead, a strong dollar and a flood of imports helped keep inflation low, forcing businesses to increase profits primarily by becoming more efficient rather than raising prices.
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