Patrick Artus explores the definition of credibility for central banks in the absence of inflation

In his regular column for FTSE Global Markets, Patrick Artus – Chief Economist at Natixis – explores how we can ascertain and measure central bank credibility if there is no recurring inflation for the central banks to successfully repress (or refrain from exploiting to lower unemployment levels). In the current period of no inflation, we must substitute a more pertinent definition for the usual one.

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