Will Bank of England ditch inflation target? New chief Mark Carney may be in favor but rate-setting insiders are thought to have doubts

Mark Carney, the Canadian who is heir to Sir Mervyn King as Governor of the Bank of England, has suggested that central banks should ditch targeting inflation in favour of something called ‘nominal GDP’. So how would it work and how would it differ from the current set-up? Since late 1992, intere…

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