Controlling inflation is the best contribution that monetary policy can make to the economic and financial welfare of Canada, said Mark Carney, the governor of the country's central bank.

Carney praised the Bank of Canada's inflation-targeting framework, saying that its advantages were demonstrated by the fact that inflation had been brought down and kept low and stable since the early 1990s. He noted that the framework's advantages were equally relevant in times of disinflationary pressures.

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