The Bank of Canada's Monetary Policy Framework: Have Recent Changes Enhanced Central Bank Credibility?
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Summary:
In recent years the Bank of Canada has made important changes in the way it conducts monetary policy. In particular, the bank has adopted explicit inflation targets and introduced significant changes to its operational framework designed to increase transparency and reduce market uncertainty. This paper examines the key issues associated with the recent changes in the Bank of Canada’s monetary policy framework and analyzes various indicators of central bank credibility.
Series:
Working Paper No. 1997/171
Subject:
Banking Exchange rates Financial services Foreign exchange Inflation Inflation targeting Monetary policy Prices Short term interest rates Yield curve
English
Publication Date:
December 1, 1997
ISBN/ISSN:
9781451858464/1018-5941
Stock No:
WPIEA1711997
Pages:
20
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