Inflation and inflation uncertainty

Quarterly Bulletin 1997 Q3
Published on 01 September 1997

By Michael Joyce of the Bank’s Monetary Assessment and Strategy Division.

Though the results cannot establish conclusively whether there has been a causal link, they do suggest that the level of inflation and inflation uncertainty are positively correlated. If inflation uncertainty is costly, this provides a potential justification for directing policy at establishing and sustaining an environment of low inflation.

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