The Hill Times
The Bank of Canada's monetary policy framework renewal should incorporate lessons from recent world events—including the COVID-19 pandemic—such as how to better forecast inflation in response to unprecedented “supply shocks,” according to a former deputy governor.
But in retrospect … I think we probably will conclude that central banks were a little bit slow in responding to that inflation. And at this point, I actually don't think we will conclude that they were excessive in terms of rate increases, but I think that's maybe too soon to tell,” he said.
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