December 12, 2005
        
Our Approach to Monetary Policy: Inflation Targeting
            This year also marks the 70th anniversary of the creation of the Bank of  Canada, and we too have taken the time to celebrate our contributions to Canada.  At such times, while it is appropriate to look back and celebrate history and  accomplishments, it is also a good opportunity to look forward and think about  where we are headed. In this spirit, I'd like to talk to you today about one of  our main responsibilities; that is, the conduct of monetary policy.