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BOC Deputy Schembri Co-Authors Inflation Targeting Paper

CANADA
(MNI) OTTAWA
  • Rare discussion paper co-authored with a Deputy, this one from Larry Schembri and two research staffers compares Canada's 5-year reviews of the 2% inflation target with other nations
  • Paper says the process has benefits from keeping up to date with new theories and practices, and boosts the credibility of the framework
  • Also potential for tensions around independence as government can weigh in. (Canada's target is agreed jointly with the government)
  • Fed has said it may benefit from this kind of practice
  • Canada's next target renewal is due next year, market expects little change to goal enshrined in early 1990s and BOC has been more successful at meeting its goal than most other major CBs
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
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MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
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