Bank of Canada: Credibility helps keep inflation expectations anchored
A paper published by the Bank of Canada in May explores the role of inflation expectations and the conduct of monetary policy in the recent financial crisis.
The paper shows that inflation expectations in most countries remained remarkably well anchored throughout the last two years despite the massive shocks that were affecting the economy demonstrating the credibility of many central banks.
The authors, Rose Cunningham, Brigitte Desroches and Eric Santor, find that the maintenance of well
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