Monetary stability: rhyme or reason?

Quarterly Bulletin 1997 Q1
Published on 01 March 1997

By Mervyn King, Executive Director and Chief Economist of the Bank

Mervyn King, Executive Director and Chief Economist of the Bank, discusses the importance of monetary stability. He argues that the period of post-war inflation has produced an inflation generation—a generation for whom inflation is the norm and affects every major economic decision. Mervyn King reviews the static and dynamic costs associated with inflation and concludes that the benefits of price stability are substantial.

PDFMonetary stability: rhyme or reason?


Other Quarterly Bulletin 1997 Q1 articles

Was this page useful?
Add your details...