If governments announced limits on that growth they would reduce inflationary expectations and wage demands - and thus reduce inflation itself.

For instance, there may be pressure on the government to reduce inflation, reduce unemployment, and reduce interest rates while maintaining currency stability.

Their priority was to reduce inflation using steps to control the money supply, which reinforced the high levels of interest and a strong currency.

His tenure was characterised by radical policies to correct the public finances, reduce inflation and liberalise the economy.

In 1991 most state subsidies were removed, leading to a severe recession exacerbated by the fiscal austerity necessary to reduce inflation and stimulate investment.