3  Lant Pritchett and Larry Summers (2014) “Asiaphoria meets regression to the mean” NBER Working Paper 20573, available at http://www.nber.org/papers/w20573.pdf  8  Conclusion Today, I have set out a view for policy based on the existing forecasts. We expect better growth and lower inflation.
We would like to see inflation expectations moderate so that they are more comfortably within the inflation target range, to help us permanently and structurally lower inflation and therefore interest rates. We expect lower inflation to yield benefits, including for growth.