The Globe and Mail reports in its Friday edition that while the Bank of Canada's inflation-targeting regime has worked well, improvements should always be considered, deputy governor Lawrence Schembri said on Thursday at the bank's 2021 inflation-target renewal conference. A Reuters dispatch to The Globe reports that the BOC's monetary policy framework, which includes a 2-per-cent inflation target, has come under increased scrutiny as the bank twice raised official interest rates even though inflation remains well below the target. The conference is aimed at soliciting ideas for changes to the monetary policy framework from analysts and experts. TD economist Don Drummond says, "I think the mandate is posing a problem." He points to the "hassle" and misunderstanding that has swirled around the bank's recent rate hikes. Mr. Drummond believes more emphasis should be placed on the 1-per-cent to 3-per-cent inflation target range rather than the 2-per-cent midpoint. Mr. Schembri said the bank has historically used the five-year review of the monetary policy framework to consider dimensions beyond the narrow scope of the joint inflation-control agreement and the goal of price stability.