- 17 Conclusion To conclude, standard empirical analyses support the FOMC’s outlook that, with gradual adjustments in monetary policy, inflation will stabilize at around the FOMC’s 2 percent objective over the next few years, accompanied by some further strengthening in labor market conditions.
Targeting inflation: the Bank’s best contribution to Canada’s economic well-being The Bank of Canada’s mandate is to promote Canada’s economic and financial welfare. We do that by targeting inflation, as measured by the consumer price index. Our target range is 1 to 3 per cent, with the Bank’s monetary policy aimed at keeping inflation at the 2 per cent target midpoint.