As a consequence Uganda did not suffer losses on their external asset portfolios and they were not vulnerable to a loss of liquidity arising from foreign creditors withdrawing access to credit: i.e. a sudden stop.
Since 1995, the target has been the 2 per cent midpoint of a 1 to 3 per cent inflation control range. The inflation target has proven to be very effective—indeed, it has been the most successful regime in Canadian monetary policy history. Inflation has been low and stable, and we've experienced solid growth and less volatility in output and employment.