The Bank of Canada will announce details of its new inflation target mandate today (December 13).
A news conference has been scheduled for 11 a.m. today in Ottawa between Bank of Canada Governor Tiff Macklem and federal Finance Minister Chrystia Freeland.
Canada’s central bank will hold an embargoed briefing for journalists on the new inflation mandate ahead of the news conference.
However, despite the news conference, not much is expected to change with the inflation target. The new mandate is expected to keep the central bank’s existing 2% target in place.
Inflation in Canada has run higher than the Bank of Canada’s 2% target for seven consecutive months now, and the central bank is widely forecast to begin raising interest rates to bring down the inflation rate in the New Year.
The Bank of Canada’s new inflation mandate is expected to include some new language around employment, according to several media reports. It’s not clear what that language will be.
