Inflation targets - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T08:08:45+00:00A Simple Test of Simple Rules: Can They Improve How Monetary Policy is Implemented with Inflation Targets?
https://www.bankofcanada.ca/2003/10/working-paper-2003-31/
The authors evaluate whether an assortment of simple rules could improve how the Bank of Canada implements its inflation-targeting monetary policy. They focus on measuring the correlation between the deviations of inflation from the target and the lagged deviations of rule recommendations from the actual policy interest rate.2003-10-02T12:35:31+00:00enA Simple Test of Simple Rules: Can They Improve How Monetary Policy is Implemented with Inflation Targets?2003-10-02Inflation targetsMonetary policy implementationWorking Paper 2003-31 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp03-31.pdfA Simple Test of Simple Rules: Can They Improve How Monetary Policy is Implemented with Inflation Targets?Nicholas RoweDavid TulkOctober 2003EE5Inflation Targeting and Medium-Term Planning: Some Simple Rules of Thumb
https://www.bankofcanada.ca/wp-content/uploads/2010/06/longworthe1.pdf
Inflation targeting, a stable macroeconomic environment, and an average growth rate for potential output that is not expected to vary much in the next several years all help households, businesses, and governments in their medium-term economic and financial planning. Several simple rules of thumb can be usefully employed in this planning. Specifically, inflation targeting has maintained most major measures of inflation quite close to the target midpoint on average over a number of years. Combined with a clear fiscal framework, this has contributed to a more stable macroeconomic environment in which output varies less around its potential level. Potential output growth is expected to average around 3 per cent over the next several years.
In light of these factors and historical relationships, labour income, profits, and consumer spending will likely grow, on average, by about 5 per cent over the medium term. Real and nominal long-term interest rates should also continue to be stable, with real 30-year yields varying around 3.5 or 4.0 per cent, and nominal yields varying around 5.5 or 6.0 per cent.2003-05-22T08:45:01+00:00enInflation Targeting and Medium-Term Planning: Some Simple Rules of Thumb2003-05-22