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January 1, 2011

The Bank of Canada should lower its inflation target as part of a new monetary policy agreement due at the end of 2011, according to a study released today by the C.D. Howe Institute. In Moving Monetary Policy Forward: Why Small Steps – and a Lower Inflation target – Make Sense for the Bank of Canada, leading economist Angelo Melino explains why the Bank of Canada should keep its current inflation-targeting regime in the new agreement with the Department of Finance, but make several reforms, including a lower inflation target, to achieve some important goals.


Angelo Melino

Angelo Melino's research interests include links between finance and macroeconomics.

On the University of Toronto faculty since 1981, he was Associate Chair of the Department of Economics and Director of Graduate Studies, from 1998 to 2001, and has also taught at Harvard and the University of California at San Diego.