BoC deputy governor’s lecture follows Statistics Canada’s release of August inflation data, which showed the annual rate of Consumer Price Index growth fell to 7 per cent last month
The Bank of Canada projects a sharp slowdown in economic growth in the second half of the year and into 2023. But central bank officials have maintained that what policy makers call a
“The best strategy for responding to high inflation – and, most importantly, for avoiding de-anchoring [of inflation expectations] – depends partly on how people form their inflation expectations,” he said. “The truth, as you can imagine, lies somewhere between these theories,” Mr. Beaudry said, suggesting the central bank believes it has some ability to influence inflation expectations.
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