Chart 19  Conclusion  Price Developments in G7 Countries 3.0  y/y % chg. Average from 2000 through 2012  Average from 2013 through 2019  2.5 2.0 1.5 1.0 0.5 0.0 -0.5 Japan  U.S.  Germany  U.K.  France  Italy  Canada  Notes: 1.
Again, though, the potential costs of reliance on interest rate reductions – including risks of undesirably high inflation, excessive leverage leading to financial stability concerns, or both – argue for a regime of well-considered liquidity regulations.