Canada maintains inflation target for next 5 years

The Bank of Canada renewed its inflation target of 2%, measured as the change in the core consumer price index, with a symmetrical band of 1% either side, for the next five years.

In a joint statement, issued during a budget update by finance minister Jim Flaherty on 23 November, the central bank and the federal government said the renewal is expected to help produce "low, stable and predictable inflation and will underpin confidence in Canada's economic prospects."

The Bank of Canada had

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