Other central banks publish a projected interest rate path consistent with their economic outlook—not so in Canada.
The higher-than-expected inflation of the late-1980s was one reason the bank switched to inflation targeting.
A phrase heard almost hourly at the conference was “this time is different.”
Only surprises have real effects, Friedman argued, but their effects last only until people realize what’s going on.
After her presentation to the Economic Club in Toronto Monday, Julie Dickson, the Superintendent of Financial Institutions, faced one key issue in questions from the audience: Do bank regulatory reforms in foreign jurisdictions extend beyond that called for in international forums such as the Basel Committee and Financial Stability Board?