There are two reasons – and they are closely related to the concerns about low inflation that I raised earlier. The first reason is that price level targeting makes long-term contracts safer for borrowers and lenders.
And as to the topic they will be discussing, that could well depend on the turning we take on the crossroads that we are at now. Thank you for your attention. I wish you all an interesting and entertaining conference. 2  BIS Review 27/2001