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"The MPC judges that attempting to bring inflation back to the target quickly risks generating undesirable volatility in output and would increase the chances of undershooting the target in the medium term," he wrote.
Attempts to keep inflation at the inflation target in these circumstances may cause undesirable volatility in output".
The Bank added: "The MPC's remit is to deliver price stability, but to do so in a way that avoids undesirable volatility in output.
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"We continue to be wary of movements in long-term interest rates, especially undesirable spikes in volatility, and will keep up efforts to reduce that volatility," he said.
He said currency volatility was undesirable.
Finance ministers have said that exchange rates should reflect economic fundamentals and that excess volatility is undesirable.
The group's collective view on currencies was adopted in 1997, when the ministers declared a "major misalignment" in foreign exchange markets had ended and that "excess volatility is undesirable," signaling that the industrial nations did not want the dollar to rise further.
Alas, they could not even agree on what it was they had agreed upon.This G7 communiqué differed from the one issued after the group's meeting in Dubai last September only in saying that more flexibility is desirable for currencies that currently "lack such flexibility", while "excess volatility" was undesirable.
The physical deacidification step must be designed in order to take the high difference in the volatility of undesirable compounds and the neutral oil under high temperatures and vacuum, without causing damage to nutraceutical compounds, excessive production of trans fatty acids and neutral oil loss.
Complexation of pharmaceutical compounds with cyclodextrins (CDs), to form a host-guest complex in solution as well as solid states, results in altered physicochemical properties of the guest, like solubility, stability, dispersibility, volatility, masking of undesirable properties and so on, which are desirable for their use as pharmaceuticals [4].
The use of a conditionally unbiased, but imperfect, volatility proxy can lead to undesirable outcomes in standard methods for comparing conditional variance forecasts.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com