Inflation has many other disadvantages which, all in all, can only lead to the conclusion that the central bank must always carefully monitor economic developments to maintain price and financial stability. No country can afford to move out of line with the inflation rates in the rest of the world. 4.
Tiff and I are pleased to be here with you today to discuss the April Monetary Policy Report, which the Bank published last week. •  Global economic growth has evolved broadly as anticipated in January. •  In the United States, the economic expansion is continuing at a modest pace, with gradually strengthening private demand partly offset by accelerated fiscal consolidation.