Bank of Canada keeps 2% inflation target in mandate renewal

BNN Bloomberg · The Canadian Press · 2026-11-06 10:28 UTC

The Bank of Canada and federal government have agreed to keep a target of two per cent inflation at the core of the central bank’s mandate.

OTTAWA — The Bank of Canada and federal government have agreed to keep a target of two per cent inflation at the core of the central bank’s mandate.

The Bank of Canada sets its benchmark interest rate independently from the federal government but it gets its inflation-targetting mandate from Ottawa.

The Bank of Canada said in a release announcing the renewal of its five-year mandate today that its inflation target has served Canadians well in recent decades.

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