La recrudescence des bulles en r?gime de faible inflation a discr?dit? l'id?e selon laquelle la stabilit? des prix assure la stabilit? financi?re. Certains affirment l'existence d'un paradoxe de la cr?dibilit? des banques centrales. Tous pr?nent une politique mon?taire encore plus restrictive pour briser la sp?culation ? cr?dit. Curieusement personne ne s'est demand? si la quasi-disparition de l'inflation n'aurait pas favoris? l'?mergence des bulles sp?culatives. Pourtant, en fixant des taux d'int?r?t r?els trop ?lev?s, les banques centrales poussent les entreprises ?
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