The mandate to maintain price stability should not be seen in isolation. The Treaty assigns several other duties and tasks to the ECB. This notwithstanding, there is no doubt of the overriding importance attached to the primary objective of price stability.
In sum, a sound macroeconomic policy framework, appropriate structural adjustments, and a floating exchange rate all did their part to help Canada’s economy adjust to the changing circumstances of the 1990s. While these adjustments were difficult, the payoff came quickly. By the end of the decade, Canadians were beginning to see higher real incomes. International forces So that’s a quick backward look.