From the Summer of 2020 to the end of 2022 the inflation rate in Canada has rose from about 0.5% to 5.5%. Answer both parts below. (a) Suppose the Bank of Canada wanted to permanently reduce the inflation rate to its target rate of 2%. Using the IS-MP-PC model, describe the steps it must take, and explain how the economy adjusts. (b) Suppose the Bank's policy included forward guidance which gave consumers confidence that inflation would soon fall to 2%. How would this affect your answer to part (a)