There’s a “snowball’s chance in hell” of inflation targets being adjusted, and central banks have “no compunction” about driving economies into recession to arrive at 2 or 3 per cent inflation targets, portfolio manager at Coolabah Capital Christopher Joye has said.

Appearing at The Australian Financial Review Alpha Live conference in Sydney on Thursday, the investor and commentator said he’s regularly asked by investors long on equities, property and crypto whether inflation targets can be adjusted. However, he described the idea as “pure hopium”.