So, the Bank has been working with Statistics Canada to create an adjusted price index that better captures today’s consumption patterns. We talk about this work in Box 2 of the MPR. The adjusted price index shows that inflation is probably not as low as the official CPI suggests, although the difference is not large.
In autumn this year, the Governing Council may decide to enter the next preparation and experimentation phase. This is entirely separate from the decision on whether or not to issue a digital euro, which will only be taken once the legislative process has concluded.