The Importance of a Higher Inflation Target

Once inflation gets above a certain threshold, it ceases to become something that people ignore, becomes more salient. And then we see the correlation across categories going up. So I think that is the crucial point. If you can keep the target at such a level that when you hit the target, it's simply not noticed. That's the ideal state of affairs. Now, just to say that we will soon be producing a more extensive piece of work which elaborates on the chapter two last year. so if you're interested in these questions, I would strongly encourage you to look at it. Thanks, Claudia and June.