Getting Talk Back on Target: The Exchange Rate and the Inflation Rate
Recent efforts by the Bank of Canada to “talk down” the dollar in its public statements have led to public perceptions that the Bank is considering action to weaken it.In permitting this response to gather momentum, the Bank has stepped onto a slippery slope, because if talk seems to be failing, people might reasonably expect direct intervention in the exchange market to follow.
|Date of creation:||Dec 2009|
|Publication status:||Published on the C.D. Howe Institute website, December 2009|
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