I would note that the recent results of academic research on the methods for measuring inflation rates offer valuable suggestions for the old but also new issue of how to define consumer prices.
Central banks’ response to the crisis  Let me now turn to the first topic you asked me to address, the measures taken by central banks around the world in response to the global financial crisis. In a nutshell, I consider those actions to have been bold, forward-looking yet historically informed, drawing appropriate lessons from financial crises of the 20th century.