Carney discusses limitations of price-level targeting

Mark Carney

Mark Carney, governor of the Bank of Canada, on Wednesday said that while the adoption of a price-level target may help combat future disinflationary pressures, it is unlikely to be effective in providing additional stimulus in current conditions.

At the Board of Trade of Metropolitan Montreal, Carney said: "Price-level targeting may merit consideration as a temporary unconventional policy tool in countries faced with extraordinary circumstances, notably those with policy at the zero-lower bound

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