This may seem like a rather narrow objective – a topic that we will return to later in the presentation – but experience has shown that this is the best contribution that the Bank can make to the economic well-being of Canadians.
The greater certainty that it provides with regard to the future path of prices allows households and businesses to make more informed spending and investment decisions, and minimizes the inequity associated with unexpected movements in prices. Keeping inflation low, stable and predictable is a means to an end, not an end in itself.