Strong growth and long expansions have always gone hand-in-hand with low inflation. Weaker growth and short expansions have occurred in the high-inflation era, particularly the 1970s but also in some parts of the 1980s. This “no faster” idea does not mean that we will panic at unexpectedly strong growth over a short period.
For the income trust sector to deliver efficiency benefits through the enhancement of market completeness, it's important that the tax system provide a level playing field. BIS Review 11/2007  1