Don’t want to keep fighting inflation every two years

.........Inflation is a disease that we have to get rid of if we want sustainable growth. Moderate inflation is fine but the high levels of inflation that we have, of close to 10% and sometimes above, is detrimental to growth in many ways. The problem in the last few fights around inflation is that every time we look like we are succeeding, the clamour for rate cuts rises. It is true that we don’t want higher rates for longer than we need to have but we don’t want to keep fighting inflation every two years, which is what we have been doing over the last few years. Our point is that let us reliably bring down inflation. Are we being too tight relative to the growth situation? I don’t think so................

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