Pushing unemployment below
that level would cause inflation to rise and thereby ruin the other objective--
stable prices, economic growth, which is our objectives in the long run.
Overall financial stability will lead to a better balance between
consumption and saving that will make resources available for investment
purposes, reduce changes in the economy created by the inflation in the past,
and by the reactions of savers, as well as fostering high and sustainable
economic growth; and contribute towards an investor friendly environment that
will attract foreign investors to the country... displayed 300 characters
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This evidence is a comparison across countries
over long periods. The association between economic performance, measured by
growth of output or growth of productivity, and inflation. This indicates a
negative relation; that is, the higher the inflation, the lower the rate of real
growth.
Evidence suggesting that low inflation promotes growth has motivated
recent decisions by a number of central banks and governments, most notably New
Zealand... displayed 300 characters
