Bank of Canada Triples down on inflation targeting

In “Getting to the Core of Inflation” we read: Over the past 26 years, we have reduced consumer price index (CPI) inflation and maintained it at a level close to our 2 per cent target, with no persistent episodes of inflation outside our inflation-control range of 1 to 3 per cent. Because inflation has been low, stable and predictable, Canadians have been able to make better economic decisions and achieve better economic outcomes. That’s a solid track record, so, as you can imagine, it would take some compelling evidence for us to consider major changes to the policy. Given its effectiveness,…

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