The Bank of Canada's Monetary Policy Framework: Have Recent Changes Enhanced Central Bank Credibility?
25 Pages Posted: 15 Feb 2006
Date Written: December 1997
Abstract
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.
Keywords: Monetary Policy, Inflation Targeting
JEL Classification: E52, E58
Suggested Citation: Suggested Citation
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