But he said the current policy of inflation targeting had been the most successful.
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Mr Carney said the bank's long-time policy of targeting inflation had proved successful in both the UK and Canada, setting a "high bar" for any alternative policy.
BBC: Future BoE chief Mark Carney sees 'merit' in policy debate
The three key elements of this policy remained the adoption of a floating exchange rate system, the anchoring of monetary policy to the inflation target and the acceleration of banking sector reforms, he said.
Putting somebody else in charge of monetary policy was one: the Bank of England's mandate to keep inflation low is a refreshing draught of clarity in economic policy (complicated though that task may eventually prove to be).
But you have to wonder whether it will also turn out to be another step towards a post-crisis world of monetary policy, where the nominal rate of inflation is no longer the target of choice.
The easy-money policy of the Fed explains why inflation-linked bonds may not be a bad deal for investors.
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As he notes, this means that getting rid of inflation could be more painful for the economy than in the past - but it also means that the cost of keeping policy "too loose", in terms of higher inflation, could be a lot smaller than before.
According to the FOMC statement that announced the second round of quantitative easing, the policy hinged on revamping inflation expectations and stabilizing consumer equity, starting by the easing of lending conditions.
Gold would obviously benefit from an inflation type of policy.
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But, the Fed shoulders some responsibility for commodity inflation because its policy of negative real interest rates allows speculators, including me, to benefit from the minimal expense of carrying huge debit balances.
But he argued that, with inflation rising sharply, tighter policy was essential to underpin the credibility of the committee's inflation-fighting resolve.
"The BOJ's commitment to adopt 'monetary base control' clearly is a strong message to the markets about enhancement of the monetary policy, in terms of both working on asset prices and controlling market inflation expectations, " Nishioka added.
The stated intention of this policy is to introduce more inflation as a means to potentially stimulate economic activity, but it also provides a means to pay back the large amassed debts with less valuable paper currency without having to deal with the short-term pain of actual default.
Rates so low seem to be depressing the dollar and pushing commodity prices upward, and the central bankers might be expected to try to tighten up their monetary policy if there was any serious signs of inflation or if the economy wasn't seen teetering on the verge of recession.
The bill for payroll and pensions has risen far faster than inflation in recent years, with the task of keeping inflation under control left entirely to monetary policy.
The government has been fighting inflation with a range of policy tools, including the usual monetary tightening.
The president pointed to the hopeful economic signs of low inflation, sound monetary policy, low interest rates and increasing productivity.
With the lonely exception of Scott Sumner, virtually every libertarian or conservative who has expressed a strong opinion about monetary policy has come down on the side of the inflation hawks.
The Open Markets Committee will have to make a horrific choice: fight inflation by tightening policy into a weakening economy, or fight recession by allowing inflation to burn out of control.
Mr Serra insists he supports the government's austere fiscal policy, and says he wants an inflation target of just 2.5%.
The result has been rising inflation and a sharp reversal of policy.
In his defence of classical monetary policy in the German city of Freiburg, Mr Weidmann also attacked the idea of shifting away from inflation targeting.
Gold bugs see reckless monetary and fiscal policy leading to plummeting currency values and out of control global inflation.
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Recent data from the Economic Policy Institute show that the inflation-adjusted hourly wage of college-educated Americans aged 23 to 29 dropped about 4.7 percent from 2007 to 2011.
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Some central banks, slow to grasp the effect of these structural changes on inflation and monetary policy, have been running overly loose policies that have fuelled unsustainable booms in America and some other economies.
If, say, the Bank were to tolerate 4% inflation for several years, while the policy of quantitative easing (QE) held interest on savings at below 2%, the impact on savings would be eventually the same as the impact of the Cypriot government's grab.
Labour's Chris Leslie warned that there might be circumstances under which the aims of the Financial Policy Committee, which primarily focuses on financial stability, clashed with those of the Monetary Policy Committee, which mainly deals with inflation-targeting, but is also obliged to take growth into account when making decisions.
Yet some of the whiff of inflation has dispersed on account of a collapse in commodity prices leaving the path clear for steady monetary policy for as far as the eye can see.
Of course, the British government is not the only one pursuing a combined policy of QE, unstated currency devaluation, the suppression of market forces in the bond market and tacit toleration of high inflation.
Low growth, low inflation, and low policy rates are the weapons of choice in the highly indebted advanced economies.
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