Given the high level of uncertainty that exists in a crisis environment, any pre-commitment would risk persisting with a particular policy stance even when this stance is judged to no longer be appropriate by the ECB on the basis of its assessment of the most up to date information.
Simply speaking, if the demand for goods and services is pushing the Canadian economy against the limits of its capacity, and if inflation is poised to rise above the target, the Bank would raise its official policy interest rate. This, in turn, would push up other interest rates and help to cool off the economy.