We have already seen this several times in the past year: central bank governors, especially in Europe, are preparing the public for a new inflation target because it can no longer be denied that the old target inflation rate, i.e. the inflation rate of the money supply, must continue to rise in order to keep the fiat ponti scheme alive. This time it is the Bank of England that points out that interest rate cuts may occur before the old inflation target of 2% is reached. Welcome to the Fiat Terrordome, where your purchasing power isn't worth shit!