I strongly do hope that this new centre will contribute to a better understanding for the functioning as well as the need of international institutions like the IMF, the Worldbank, the BIS and others safeguarding the economic developments in a world of liberalisation and globalisation. I really do wish you all the success needed for!
The most important came in 1991 when the Government of Canada and the Bank introduced the country’s first inflation-targeting agreement. This is exactly what it sounds like—a form of contract between the Bank and the government that lays out a target level for inflation but gives the Bank the decision-making authority to achieve it.