If you are resident in the UK, and you have substantial liabilities and outgoings in sterling, a bit of inflation will help you service what you owe at the same time as eroding the real value of your assets (or in this case, the real value of your loans to Her Majesty's Government).

BBC: The eurozone's borrowing costs may stay lethally high

Banks are allowed some leeway to use computer models in gauging the real value of assets that, for whatever reason, aren't trading.

NPR: Firms Blame Financial Woes On Accounting Rule

Deflation pushes up the real burden of debt, while the value of assets linked to that debt, such as house prices, may have to fall even more sharply in nominal terms to return to a fair level.

ECONOMIST: The world economy