See P. Duguay and D. Longworth, “Macroeconomic Models and Policy Making at the Bank of Canada,” Economic Modelling 15, no. 3 (July 1, 1998): 357–75. 5 J. Crow, “The Work of Canadian Monetary Policy,” The Eric John Hanson Memorial Lecture Series II (Winter 1988), Department of Economics, University of Alberta, Edmonton, January 18, 1988.
6 The agreement established a path for a progressive reduction in the rate of inflation to 3 per cent by the end of 1992, 2 1/2 per cent by the middle of 1994 and 2 per cent by the end of 1995.