This is my second speech in our public engagement campaign called “Toward 2021.” We call it that because 2021 is the next renewal date for our five-year inflation-control agreement with the Government of Canada, first adopted in 1991.
For the renewal, we’ve committed to a wideranging review of our monetary policy framework to ensure it best achieves our mandated goal of price stability and thereby promotes strong and sustainable output and employment growth for the benefit of all Canadians. The framework has two components: our 2 per cent inflation target and our flexible exchange rate.