This seems backwards. Yes central banks have had a low inflation target but the biggest fight of the last 14 years since 2008 has been against deflation. Centra

This seems backwards. Yes central banks have had a low inflation target but the biggest fight of the last 14 years since 2008 has been against deflation. Central banks have kept dropping rates because prices have stayed so low and were in danger of falling. Inflation has suddenly spiked up - everyone should be happy that at last the deflationary spiral has stopped. As long as doesn't continue central banks are happy.