Carney says inflation targeting is worth salvaging
Mark Carney, the governor of the Bank of Canada, defended the concept of inflation targeting in a speech on May 1.
Delivering a memorial lecture at the University of Alberta, Carney said the debate over inflation targeting since the global financial crisis had shifted from how it could be refined to "whether it could be salvaged".
To improve the inflation targeting framework, Carney stresses the importance of allowing central banks to temporarily shift their emphasis from prices towards growth
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary Policy
Eurozone’s economy contracts for two quarters running
Economic contraction will be a focal point of ECB meeting on June 15
Peru’s central bank holds rates despite high inflation
Board says decision does not mean tightening cycle is over
Zimbabwe devalues currency as crisis deepens
Analyst says Reserve Bank and finance ministry are struggling for control of FX reserves
Philippine central bank cuts lenders’ reserve requirements
Move comes after BSP paused monetary tightening in May
‘Stubborn’ inflation puts an end to Canada’s tightening pause
Bank of Canada raises main rate by 25 basis points as it predicts inflation will fall to 3% in the summer
Fed contemplates rate hike or ‘skip’
Top officials indicate the terminal rate is not yet reached – but a pause is possible
Riksbank to investigate year-end distortion in money market rate
Swestr tends to decline in the last business day of the year
Banknotes: April to June 2023
A round-up of news and salient issues that have affected central bankers in the past three months