Inflation expectations more sensitive near the zero lower bound – IMF study

IMF's latest World economic outlook looks into the effects of disinflation on monetary policy
Bruno Sanchez-Andrade Nuño

The effectiveness of monetary policy to tackle persistent disinflation may be "diminishing" in economies whose interest rates are close to zero, according to an article published by the International Monetary Fund.

Forming part of the IMF's latest World economic outlook, Global disinflation in an era of constrained monetary policy finds low and falling inflation in the aftermath of the Great Recession comprise a "broad-based" phenomenon across countries, measures and sectors.

"By 2015, inflation

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