Public support is strong for two per cent inflation target, Bank of Canada says
Posted June 25, 2026 12:00 pm.
Last Updated June 25, 2026 3:09 pm.
The Bank of Canada says feedback from stakeholders and the public suggests there is strong support for its flexible inflation targeting and the two per cent target rate.
The central bank sought the comments as part of the renewal process for its monetary policy framework agreement with the federal government which it undergoes every five years.
CLICK HERE TO LISTEN TO 1130 NEWSRADIO VANCOUVER LIVE!The current review comes after the spike in inflation in 2022 that saw the annual rate hit 8.1 per cent, a 39-year high.
The central bank says many Canadians expressed concerns about the high cost of living and housing affordability, while they said clear communication about the information used to make interest rate decisions was key to fostering trust.
The current agreement between the Bank of Canada and the federal government sets an inflation target of two per cent within a range between one and three per cent.
In a speech late last year, governor Tiff Macklem was unwavering in his in his commitment to the central bank’s flexible inflation target, calling it more successful and more durable than anything that came before.
