BoC will continue targeting inflation at 2%, governor says
Guidance is well understood and provides stability in uncertain times, argues Canada’s Macklem
The upcoming monetary policy framework review at the Bank of Canada will not involve reviewing its 2% inflation target, the institution’s governor has said.
Speaking at the Bank of Mexico’s 100th anniversary conference yesterday (August 26), Tiff Macklem acknowledged that structural changes in the global economy, such as higher sovereign debt levels and more frequent supply shocks, had made controlling prices more difficult.
But he emphasised the BoC’s 2% target had been instrumental in anchoring
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