boe speech, 2006-05-25
Second, maybe what is going on can be thought of in terms of how heavily or not we discount future deviations from target/potential relative to very near-term deviations; ie a policymaker may accept the price (premium) of risking slightly higher/lower inflation in the nearish term in order to reduce (insure against) the risk of a bigger or more persistent deviation of inflation from target a little down the road.
Sentiment: neutral
Topic: mp_inflation