24  The Future of Monetary Policy: Lessons from the History of Monetary Economics Keynote Speech at the 38th Annual Meeting of the Japan Association of Business Cycle Studies  December 3, 2022 WAKATABE Masazumi Deputy Governor of the Bank of Japan  Introduction I. Looking at the Present: Is the Mild-Inflation Regime Over? II. Looking Back: History of Monetary Economics III.
Looking Ahead: Lessons from History Conclusion  Chart 1  Introduction  Price Developments in Selected Economies 30  y/y % chg.  United States 25 Euro area United Kingdom 20 Japan 15  10  5  0  -5 CY 71  76  81  86  91  96  01  06  11  16  21  Note: Figures for the United States and the United Kingdom are for the CPI for all items.