In a narrower sense, however, inflation targeting is sometimes defined as a framework in which forecasts of future inflation play the central role and are used as the overriding or even sole, all-encompassing tool for internal decision-making and the external communication of policy decisions.
Whether we should expect to get back to the pre-recession peak is also open to question, since this period marks the highest employment ratio going back several decades. The problem with using historic peaks in employment, or connecting historic peaks in GDP, is that  5  Canada is far from unique in this situation.