In such an environment, international prices of most primary commodities continued to fall, moderately, with the exceptions of oil and other energy products, which edged up in the fourth quarter amid political tensions in the Persian Gulf.
They concluded that participants found the idea too difficult to understand.19 Despite our earlier assessments, a question that we should pursue further is whether the current low neutral rate environment changes the calculus on PLT or average inflation targeting. What about extending the objectives beyond prices? There are other frameworks that are also like buying a new house, but in the next town over.