BoC/BoE/RBA Comments
May 17, 2011 at 10:35 AM EDT
Even with headline ‘inflation’ above comfort levels and recognizing the need to ‘manage inflation expectations’ under ‘expectations theory’ they all religiously believe, they seem to be sufficiently concerned about aggregate demand to make these kinds of dovish comments. Conclusion: they’re understating the general weakness they’re sensing. From Karim, my partner at [...]