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Bank of Canada Governor Stephen Poloz has emphasized that the central bank’s inflation target is a range of 1 to 3 per cent.
Bank of Canada Governor Stephen Poloz has emphasized that the central bank’s inflation target is a range of 1 to 3 per cent.
(CHRIS WATTIE/REUTERS)

Poloz sets record straight on inflation target

Bank of Canada Governor Stephen Poloz disliked the question.

About midway through our interview at Jackson Hole, Wyo., I noted that Fed chair Janet Yellen has made clear recently that the U.S. recovery’s history of false starts has made her inclined to err on the side of growth; that is, hold off on raising interest rates so long as inflation remains in check. Given the Bank of Canada’s “serial disappointment” with global economic growth, I wondered if Mr. Poloz was similarly inclined.