Canada announces renewed inflation target range
Based on the positive 20-year experience of using inflation targeting, the Canadian government and the Bank of Canada have jointly agreed to renew the inflation target for the central bank.
The central bank's aim when setting monetary policy will continue to be keeping inflation at the 2% mid-point of a 1-3% inflation-control range. The target will still be defined in terms of the 12-month rate of change in the total consumer price index (CPI), despite recent discussions about broadening the
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