The Bank considers “price stability” to be a situation in which the economy improves in a balanced and sustainable manner, accompanied by increases in employment, wages, and corporate profits, and prices rise moderately as a result.
3  Corden WM (2011), “Global Imbalances and the Paradox of Thrift”, CEPR Policy Insight, No 54; see also Corden WM (2008), “The Global Imbalances: What is the Problem”, Revised version, Wincott Lecture, September 2007 and Corden WM (2007), “Those Current Account Imbalances: A Sceptical View”, The World Economy, 30(3), pp 363–382.