7  G. Paulin, “Credibility with Flexibility: The Evolution of Inflation-Targeting Regimes, 1990–2006,” Bank of Canada Review (Summer 2006): 5–18; S. Jahan, “Inflation Targeting: Holding the Line,” International Monetary Fund, Finance and Development, March 2012. BIS central bankers’ speeches  3  The recent behaviour of inflation in Canada With that context, let’s look at the recent behaviour of inflation in Canada.
There is clearly justification for some of the increase that has occurred in the spread, which was too low in the past.