What can we learn from the recent disinflation episode?
Check against delivery. 1 Introduction 2 Drivers of the latest surge in inflation and the response from monetary policy 3 The recent global episode of disinflation and its economic costs 4 Possible explanations for the comparatively painless process of disinflation 5 Lessons learned from the most recent episode of disinflation 6 Conclusion 1 Introduction Ladies