In contrast to Canada, Mexico maintained the peg of the peso to the US dollar. We can see what happened by looking at Chart 3a. Canada’s flexible exchange rate absorbed the inflationary spillover, and we had much lower rates of inflation. Canada returned to a pegged rate for the period from 1962 to 1970 but left the Bretton Woods system for good in 1970.
With this action plan, the Eurosystem aims, without prejudice to the primary objective of price stability, to ensure that it takes full account of the impact of climate change in the conduct of its monetary policy. In summary, the following milestones are envisaged on our way to integrating the parameters of climate change.