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MNI BRIEF:BOC Says Current Inflation Goal Has Served Very Well

OTTAWA (MNI)

Bank of Canada Deputy Governor Larry Schembri said Wednesday the current 2% inflation target has done a good job over time, helping the economy adjust to shocks and anchoring price expectations.

Part of the benefit of the current system is the simplicity of explaining it to the public, he said. Testing has also shown that no alternative is a "clear winner" to the current system, which is up for renewal under an agreement with the government later this year.

MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com

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