ECB stands in contrast to Bank of England

FEATURE - Tuesday's London edition FT reports on the difficulties central banks can face in identifying and maintaining ideal inflation targets.

Next week, the Bank of England will celebrate five years of independence as the UK central bank, safe in the knowledge that inflation targeting has been a success. It has hugged its 2.5 per cent target closely and kept its reputation unsullied.

The Old Lady of Threadneedle Street, as the bank is called by virtue of its location, has proved pretty

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