1. Go to the Bank of Canadas website, and find data on the inflation rate (the 12-month...

Question:

1. Go to the Bank of Canada’s website, and find data on the inflation rate (the 12-month growth rate in total CPI).

a. Calculate the average inflation rate over the last 12 and the last 24 months of data available. How does it compare to the 2% inflation goal?

b. What, if anything, does your answer to part

(a) imply about Bank of Canada credibility?

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