In particular, we aim to keep the annual rate of consumer price inflation at the 2 per cent midpoint of a 1 to 3 per cent target range. This is the best contribution that we can make to achieving high, sustainable growth of output and employment. To be clear, inflation targeting is not an end in itself.
Rather, it is the best means of fulfilling our commitment to promote the economic and financial welfare of Canadians. We pursue this objective by trying to keep the economy operating at full capacity; that is, we aim for a balance between total demand and supply in the economy.