Notably, the much hyped “decoupling” does not stand to strict scrutiny. On the contrary, there is evidence of powerful coupling.
I think of this as paying dearly, every day, for insurance against the low-probability risk that another very large macroeconomic shock could occur in the future. Besides, pushing inflation up from 2 per cent to 3 per cent might be quite difficult to do, and might require some significant economic fluctuations, given how well inflation expectations appear to be anchored at 2 per cent.