@RealSalluKhan What you’re describing is known as price-level targeting. Under PLT, overshoots or undershoots of the target are not bygones, they are offset in the following period. The option of PLT versus inflation targeting has been investigated by the BoC on several occasions…1/2
@MarcLevesqueEco All I care about is that my cost of living in 4 years has jumped 25% while my income only about 6%
@RealSalluKhan …in research prior to the renewal of their mandate. Also, prior to the most recent mandate renewal, the Max Bell School of Public Policy at McGill organized an excellent conference discussing the various options. If you’re interested, you can probably find the papers online.