(Bloomberg) -- Central banks should, for now, stick to their goal of slowing inflation to 2%, according to International Monetary Fund Financial Counselor Tobias Adrian.

“We have too-high inflation, so changing the inflation target when you are further away from the target, that would undermine credibility,” Adrian told Bloomberg Television on Thursday. “This is not the right time to change the inflation target to a higher level.” 

The catalyst to raise it would be “if we’re back down in a deflationary environment,” he said.

Adrian said the Federal Reserve is on the “right path” and that the IMF favors the policies it has announced. Turning to the UK, he said the Bank of England’s “targeted and temporary asset purchases” have been successful.

“The overall stance of monetary policy continues to be one of a tightening as inflation is above 10% in the UK,” he said.

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