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AMP strategist urges adherence to inflation targets

By Rita Raagas De Ramos | 4 June 2008
Keywords: inflation | targets

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Adjusting inflation targets to allow for the current surge in food and oil prices would risk entrenching high inflation, says AMP Capital’s Shane Oliver.

Rising food and energy prices are leading some to argue that inflation targets need to be relaxed. But Shane Oliver, head of investment strategy and chief economist at AMP Capital Investors, believes that would be a big mistake.

“The 1970s experience tells us that allowing higher inflation to become entrenched will lead to more, not less, economic pain,” says Sydney-based Oliver. “Sustained high inflation would be bad news for investors. The boost to investment market valuations from the move to low inflation that drove strong investment returns in the last 25 years would ...

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