Inflation targeting is strongly beneficial for economies. The framing provides stability, where firms and households can make better financial decisions, and in the aggregate, it helps Canada sustain economic growth and competitiveness, helping create jobs and fostering productivity.
A recent discussion between popular economists has surfaced ideas on the proper level of targeted inflation. Nobel Prize winner Paul Krugman, in conceding that inflation is not just a passing fad, noted that inflation manifests because expectations become assumed and self-fulfilling. He uses a football analogy: when stadium fans begin standing one by one, seeking a clearer view of plays on the gridiron, it leaves no one with a sightline of gameplay.
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