Inflation – is it time to shift the goalposts?

Is this goal the right one? It's time to reconsider. (Image: Unsplash)

Tue, 28 Mar 2023

How long before we start having a debate about shifting the goalposts and having a looser inflation target?Expect the debate to start in earnest as the economic and social costs of taming inflation become more pronounced. The real interest-rate pain is still around the corner because almost half of homeowners' mortgages are due to be refinanced in the coming year. Central banks have spent decades building credibility, so shifting the target would be a serious threat to that credibility. Moving the goalposts would be seen as a...

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