Specifically, we are looking into the merits of a lower inflation target and price-level targeting. Now, let's look at transparency about the inputs, the processes, and the reasoning behind monetary policy decisions. Just a little over a decade ago, the Bank didn't even issue a press release when it made an interest rate decision. Now, our rate announcements are widely anticipated.
There is a very high level of interest, stretching from households to office towers, in what the Bank of Canada has to say on interest rates, inflation, and the economy. This interest is at least partly the result of a series of measures taken by the Bank to increase transparency.