The damning truth about the UK’s 2% inflation target: it’s completely made up | Louis-Philippe Rochon ( www.theguardian.com )
But let’s focus on the choice of a 2% target. After the high inflation of the late 1970s and early 1980s, when it reached over 20% in the UK, central banks were left scrambling to find some new theoretical model to deal with rising prices. The first central bank to propose an inflation target of 2% was in New Zealand. But...
