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They think that the costs of higher, and possibly more volatile, inflation would outweigh any gains.
If central bankers relax, higher, more volatile inflation could easily return.
Although the average was little changed, four years of volatile inflation had changed the spread a lot.
The report on consumer prices — a more closely watched and less volatile inflation gauge — will be released today.
The Bank's own forecast indicates that inflation will have been below the target for almost four years by the start of 2003.In its defence, the Bank can argue that the range is extremely narrow, given how volatile inflation has been in the past.
When the new arrangements were established, the governor was expected to put pen to paper quite often, given previous experience of how volatile inflation had been.Of course neither Mr Brown nor the bank can take full credit for everything that has gone right.
Similar(53)
Outside those volatile categories, inflation stayed tame.
But excluding those two volatile commodities, inflation was nearly flat.
But outside those volatile categories, inflation was mild.
WASHINGTON (AP) — Americans paid more for food and energy in February, according to a government report released Thursday, but outside those volatile categories inflation was tame.
Finally, we find that during volatile periods inflation expectations are formed similarly as in normal periods.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com