In Canada, targeting the inflation rate was intended as a temporary measure on a journey to price-level stability, but … account, changing beliefs about the stability or otherwise of ongoing inflation, the capacity of a flexible exchange rate to … inflation targeting arrived on the scene only after the Canadian regime was well established. …

. inflation anchoring properties. This layout is then confronted with the policy framework in use in the euro area prior to the … dis-anchoring of long-term inflation expectations experienced in the euro area since 2013, however, suggests that the … policy framework could benefit from a rebalancing towards a formulation with stronger anchoring properties. The inflation aim …

curve (ie the weakening of the relationship between inflation and unemployment) in recent decades could reduce the ability … of central banks to reach their inflation targets. Third, the discussion on whether central banks should also target … considerations, we recommend that the ECB should update its definition of price stability to target core inflation around two percent …