The exchange rate is determined in markets, and we neither promote any specific value for the Canadian dollar, nor thwart its movements. Our inflation-targeting policy has three important features. It is symmetric. The Bank is equally concerned about inflation rising above or falling below the 2 per cent target.
______ (2011). “The Future of Economic Convergence,” NBER Working Paper No. 17400. Cambridge, Mass. : National Bureau of Economic Research, September. 8  BIS central bankers’ speeches  Romer, Paul M. (1986). “Increasing Returns and Long-Run Growth,” Journal of Political Economy, vol. 94 (5), pp. 1002–37. Sachs, Jeffrey, and Andrew Warner (1995).