New Zealand is quite well-known for establishing performance contracts for government officials, and this approach is followed in the law  BIS Review 65/2001  3  governing the operation of the central bank: The statute allows the governor to be dismissed if inflation performance is inadequate. The Bank of Canada operates under the vaguest legal mandate among inflation-targeting central banks.
Indeed, productivity has increased more quickly than wages over the past year, roughly coinciding with the weaker inflation that we have seen. However, Bank staff have yet to find rigorous empirical evidence to show that these factors add to our understanding of Canadian inflation beyond what the basic drivers tell us.