Since 1991, the Bank of Canada has conducted monetary policy with an explicit numeric target for inflation, a target  BIS Review 29/2006  1  that is set jointly with the Government of Canada. Since 1995, the inflation target has been the 2 per cent midpoint of a 1 to 3 per cent range.
We will now report on the outcome of today’s meeting. Based on its regular economic and monetary analyses, the Governing Council continues to view the current key ECB interest rates as appropriate. It therefore decided to leave them unchanged.