The debate surrounding the long-awaited revival of inflation and its implications on monetary policy settings has re emerged in recent times. At the same time, global central banks have so far firmly resisted any discussions about unwinding the extraordinary support measures. Central to the cautious approach has been the experienceof the years since the global financial crisis, wherein developed markets central banks have consistently failed to achieve the 2% inflation targetinspite of large monetary accommodation and unconventional policy measures including large scale asset purchases......
