Archived - Government of Canada Renews Inflation-Target Agreement With the Bank of Canada

October 24, 2016 – Ottawa, Ontario – Department of Finance Canada

Maintaining low, stable and predictable inflation is essential to foster an environment in which middle class Canadians can prosper. Price stability contributes to balanced, sustainable and inclusive economic growth.

Minister of Finance Bill Morneau today announced that the Government of Canada and the Bank of Canada have agreed to renew Canada’s flexible inflation-target regime for another five years to the end of 2021. Under this renewed agreement, the inflation target will continue to be the 2 per cent mid-point of the 1 to 3 per cent inflation-control range.

The commitment by the Government and the Bank of Canada to this inflation-control target will ensure that Canadians continue to derive the economic and social benefits from low, stable and predictable inflation and will underpin confidence in Canada’s economic prospects in the coming years.

Annie Donolo
Press Secretary
Office of the Minister of Finance

Media Relations
Department of Finance Canada

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