Fund economist: Lost Decade shows need for higher inflation targets


An IMF researcher on Tuesday used Japan's chronic deflation to defend raising inflation targets, as suggested by Fund chief economist Olivier Blanchard in a recent paper which has come under fire from leading central bankers.

Daniel Leigh, a research economist at the organisation, said evidence from Japan supported the notion of raising inflation targets to give central banks room to make further cuts in times of need - during the recent crisis, for example - was a sound one, in a column for Vo

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