Bank of Canada and finance department renew 2% inflation target for five years
The Bank of Canada and Canada’s finance department agreed to renew the central bank’s inflation-targeting framework for another five years. The bank will continue to aim for 2% inflation, measured by the 12-month change in the consumer-price index. In a joint statement, the institutions said the past five years had reinforced the value of a clear and credible framework that allows the bank to respond to changing economic conditions.