Calgary, November 8, 2011

Archived - Government of Canada Renews Inflation-Target Agreement With the Bank of Canada

Archived information

Archived information is provided for reference, research or recordkeeping purposes. It is not subject to the Government of Canada Web Standards and has not been altered or updated since it was archived. Please contact us to request a format other than those available.

Related Document:

The Honourable Jim Flaherty, Minister of Finance, today announced that the Government of Canada and the Bank of Canada have agreed to renew Canada’s flexible inflation-target regime for another five years to the end of 2016. Under the renewed agreement, the inflation target will continue to be the 2 per cent mid-point of the 1 to 3 per cent inflation-control range.

“At a time of continuing global economic uncertainty, it is more important than ever to provide a stable economic environment that bolsters confidence and supports growth,” said Minister Flaherty. “The flexible approach to inflation targeting we have in Canada helps create these conditions, and together with our strong financial institutions and sound public finances, represents strong economic fundamentals that are recognized around the globe. Low, stable and predictable inflation benefits households and businesses through lower mortgage and loan costs.”

For further information, media may contact:

Mary Ann Dewey-Plante
Press Secretary
Office of the Minister of Finance

Jack Aubry
Media Relations
Department of Finance

To receive e-mail notification of all news releases, please register.