Special Figure Deflationary Capitalism

This special figure about deflationary capitalism highlights the following takeaways:

• Why has inflation in advanced economies remained stable, yet so weak in recent years?
• Advanced economies are facing lasting structural deflationary forces, among which: demography, employment conditions and technology / digitisation.
• For a few years, business cycles were associated with boom-bust in financial markets. We no longer have inflationary end-of-expansion.
• The problem of central bankers, which is that a target of 2% is not credible anymore.