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Poloz: Floating Loonie Essential to the Bank of Canada’s Inflation-Targeting Regime
The Bank of Canada's commitment to keep inflation low and stable requires that the value of the Canadian dollar be determined by markets, Bank of Canada Governor Stephen S. Poloz said today in Drummondville. The Bank of Canada fosters strong, sustainable economic growth by aiming to keep inflation at the 2 per cent midpoint of a target range of 1 to 3 per cent, Governor Poloz told members of the Société de développement économique de Drummondville. Manipulating the value of the Canadian dollar is incompatible with this primary objective of the Bank, the Governor explained. “Without a freely floating currency, ... (full story)