Mandate and planning framework
Mandate
The Bank of Canada is the nation’s central bank. Its mandate, as defined in the Bank of Canada Act, is to promote the economic and financial welfare of Canada. Its vision is to be a leading central bank—dynamic, engaged and trusted—committed to a better Canada.
The Bank has five core functions:
- Monetary policy—to keep inflation low, stable and predictable
- Financial system—to promote safe, sound and efficient financial systems within Canada and internationally
- Currency—to design, issue and distribute Canada’s bank notes
- Funds management—to act as fiscal agent for the Government of Canada, advising on and implementing its public debt management and foreign exchange reserve strategies
- Retail payments supervision—to supervise payment service providers, building confidence in the safety and reliability of their services and helping protect users from specific risks
Efficient and innovative operations help the Bank achieve its mandate and business objectives.
Planning framework
A robust planning framework enables the Bank to identify actions and outcomes that bring to life its vision and mandate. Every three years, it uses this framework to develop a strategic plan that sets the Bank’s priorities and measures of success for the period.
The strategic plan enables the Bank to anticipate and adapt to an evolving environment, and it guides annual planning and budgeting activities. It also serves as the foundation for setting employee objectives.
In 2024, the Bank concluded its 2022–24 strategic plan and launched its next one for 2025–27: Canadians Count on Us. The new plan charts a clear and focused course of action for the coming three years, while leaving room for the flexibility and agility needed in a rapidly evolving environment.
Reporting
The Bank is committed to:
- publishing timely information about its activities
- reporting on its financial and non‑financial performance during the year