We are Canada's central bank. We work to preserve the value of money by keeping inflation low and stable.
24 October 2016 Joint Statement of the Government of Canada and the Bank of Canada on the Renewal of the Inflation-Control TargetThe Government of Canada and the Bank of Canada agreed that the inflation target will continue to be defined in terms of the 12-month rate of change in the total CPI, that it will continue to be the 2 per cent mid-point of the 1 to 3 per cent inflation-control range, and that the agreement will run for another five-year period, ending 31 December 2021.
24 October 2016 Letter from the Governor to the Minister of Finance regarding the Renewal of the Inflation-Control Target – Dated 21 September 2016Cover letter outlining the Bank’s recommendations for the target agreement, and detailing the Bank’s research of key issues related to the renewal.
Eight times a year, the Bank announces its decision on the setting of its key policy interest rate.