Argentina, Brazil, South Africa,  Turkey  and  Russia  have  already  depreciated their currencies significantly due to this shock; iii. Uneven fluctuations in the international prices of commodities including crude oil, gold, cocoa, etc. After hitting $ per barrel in October 2018, oil prices have dropped by over 30% as at November 25, 2018; iv.
Because of these considerations, we in Canada have had to affirm our commitment to a more concrete monetary policy objective in the form of explicit inflation targets.