The Inflation Target 10 Years on - speech by Mervyn King

In a speech at the London School of Economics today, Mervyn King, Deputy Governor, Bank of England, explains in detail why price stability is desirable and sets out the benefits it has brought to the UK.
Published on 19 November 2002

He also illustrates the difficulties of measuring inflation using historic price data taken from the Harrods catalogue. Mr King then examines the challenges to monetary policy over the next decade, and notes that two questions have been prominent recently - is inflation targeting enough, and is deflation, not inflation, the main threat at present?

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