Inflation targeting not enough: BoE's Barker

Kate Barker, a member of the Bank of England's Monetary Policy Committee (MPC) has acknowledged that inflation targeting alone cannot produce economic stability.

In an interview with the Spectator, a magazine, Barker said: "Now, it happens that in the early years of inflation targeting, it did produce a stable economy. But I think it's now clear that it can't, by itself, produce a stable economy."

Barker becomes one of a growing chorus of central bankers that have challenged inflation targeting

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