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What Changed

Ottawa and the Bank of Canada agreed on November 5, 2026 to extend the inflation-control framework for another five years, with the endpoint now December 31, 2031. The 2% midpoint within the 1% to 3% band stays intact, measured by twelve-month consumer price index changes. Policy will treat upward and downward deviations equally, with room to maneuver during shocks while keeping the eventual goal of restored price stability.

Sources: [1]

Where to Verify

The Bank framed recent above-target inflation as an execution test during exceptional global disruptions, not a framework breakdown. It bolstered tools for tracing how supply disturbances affect domestic prices. Those seeking full terms should review the joint release dated November 5, 2026 from the finance ministry and central bank.

Sources: [1]

Sources

  1. Bank of Canada — Joint Statement of the Government of Canada and the Bank of Canada on the Renewal of the Monetary Policy Framework ↗

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