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Over the years, we at the Bank of Canada have learned that the best contribution that monetary policy can make to the economic welfare of Canadians is to keep inflation low, stable, and predictable. We try to keep the annual increase in consumer price inflation at 2 per cent, which is the middle of a 1 to 3 per cent inflation-control range.

Demographic trends and the effect of Canada's aging population have begun to have an impact on the Canadian monetary policy, Bank of Canada Governor David Dodge said today.

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 4 1/4 per cent.

For 85 years, the Council has promoted the idea that the United States should take a leading role in addressing global challenges. And it has done so consistently through the years, even during times when isolationism was more fashionable.

The global economy could run more smoothly if G-7 countries showed the leadership that would strengthen international financial institutions, Bank of Canada Governor David Dodge said today.