The Bank of Canada doesn't have
a great deal of direct influence over a longer term interest rates.
But we do have firm control over our policy rate
the target for Canada's overnight interest rate.
We will continue to conduct an independent
monetary policy in response to our own
economic circumstances in order to meet
our 2 percent inflation target.
That's our primary mission.
We have a number of tools at our disposal
both conventional and unconventional
to mitigate risks to our inflation target
or to our financial system, should they arise.