Description

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.

Taxonomy

Banks and banking , Central banks , Economic policy , Financial institutions and markets , Inflation , Monetary policy

More publications in this series: Working Papers

More publications by: Takatoshi Ito ; Brenda Gonzalez-Hermosillo