This underscores the need that the current level of inflation ought to be brought down to better anchor inflation expectations which is vital for maintaining price stability in an enduring manner. 8  BIS central bankers’ speeches  BIS central bankers’ speeches  9  10  BIS central bankers’ speeches  BIS central bankers’ speeches  11
Let me now turn to some fallacies that I hear sometimes when discussing these and similar facts. III. Fallacies on competitiveness  Discussions on competitiveness often reveal misconceptions or fallacies that, in my view, are wrongly guiding the debate. Fallacy No 1: “Only the tradable sector matters for competitiveness”, some say.