9  Laidler and Aba (2000); Clinton (2006); and Bean (2006) are critical of responding to core inflation; Blinder (2006) argues on the other side. 8  BIS Review 118/2007  devote considerable resources to understanding inflation developments in an effort to distinguish signal from noise in the incoming data.
Moreover, the Committee clarified that it expects to maintain a highly accommodative stance of monetary policy for a considerable period after the economic recovery strengthens.