Inflation unease set to dominate Jackson Hole

Q: What is the Jackson Hole meeting?

A: Held at a fishing retreat amid the breathtaking scenery of rugged Wyoming, it is the biggest annual gathering of central banking’s great and good.

Since 1978 the Federal Reserve Bank of Kansas City has hosted the annual economic policy symposium in the US state. It is attended by central bankers, policy experts and academics.

It is designed to allow those experts focus on a topic that is not necessarily of immediate concern, but instead looks at emerging issues and trends.

It is keenly watched by market analysts and traders around the world. This year it takes place between Thursday and Saturday.

Q: What are the issues that are expected to be discussed?

A: In 2014, European Central Bank President Mario Draghi prepared the way for the central bank’s massive bond-buying programme – also known as quantitative easing – designed to help spur growth in the then moribund eurozone economy.

Market watchers will be hoping that Mr Draghi will give some signals at this year’s event as to when the ECB will ease back from the decision. But the slow progress on inflation is likely to take centre stage, as US inflation is at 1.4pc and eurozone at 1.3pc – well below their 2pc target.