C. Discussions over the Monetary Policy Framework Amid low interest rates and low inflation observed globally, central banks and academics have had discussions that mainly regard the monetary policy framework. The Bank of Canada reviews its monetary policy framework every five years; the Federal Reserve  10  Arguments for raising interest rates include the "theory of ammunition."
According to this, a central bank should raise interest rates in advance -- as if loading a gun with ammunition -- because otherwise it cannot lower interest rates when the next economic downturn occurs. Of course, when the price stability target is achieved in a sustainable manner, interest rates are likely to increase reflecting inflation.