Inflation has slowed considerably, but the other economic problems remain.
Rather, he said, the bank saw evidence that inflation had markedly slowed.
It's hard to find anything very good in this report, other than the fact that inflation is slowing.
Indeed, inflation has slowed and data for September is widely expected to show a further drop because of the recent fall in energy prices.
Currently, they yield about 4.5 percent, and that could fall if inflation slows.
But with oil prices now dropping, economists predicted inflation would slow.
Inflation reached 77% in 1998 but slowed to 2% in 1999.
Such a gain would mean that inflation at the producer level had slowed as the price of oil leveled off.
In every postwar recovery, inflation has slowed through the first year of growth.
Inflation slowed in July 2009 and stayed at about 8% in 2011.