Mixed results for inflation targeting
A study by the Bank of Canada finds that the ability of inflation-targeting central banks to hit their targets varies considerably. The study, published in the Bank of Canada's Winter Review, looked at 21 countries over the period 1990 to 2007.
Some of these differences can be explained by exchange rate fluctuations, fiscal deficits, and differences in financial development, the authors conclude.
The study also finds that a higher inflation target and a wider inflation control range are
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