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It's funny how one does not separate different kinds of inflation from each other (in central bank practice).

Central banks like their interest rate management to be based on very very simple rules of thumb.

There is more than one rate of inflation? Wud? <bits of central banker cranium all over the walls>

I think they use deliberately obscure language so as to hide the fact that there isn't much there, there. Also it might explain why they spend all their time admonishing the fiscal authorities on fiscal policy and protesting that nobody else should admonish them on monetary policy.

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker

by Migeru (migeru at eurotrib dot com) on Sat Feb 18th, 2012 at 02:43:56 PM EST
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