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archive:  Stephen Poloz’s guidance for a rate change suggests
there will be no movement for well over a year. (CHRIS
WATTIE/REUTERS)  Trading Shots  Can government debt be inflated
away? Not likely Add to ...  A popular notion these days is that
inflation will take off as central banks print money to buy up
the debt of overleveraged governments. Many investors, in fact,
are betting on this scenario. However, I fear they may end up
disappointed.  For one thing, central banks are committed to
inflation targets. The Bank of Canada is presently anchored to a
range between 1 and 3 per cent. The Federal Reserve has an
implicit target of 2 per cent and Ben Bernanke’s likely
successor, Janet Yellen, wants it made explicit.  More Related
to this Story  Even if central banks abandon their inflation
targets, it’s unlikely they can inflate