Public support is strong for 2% inflation target, Bank of Canada says - BNN Bloomberg
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Article Excerpt
OTTAWA — The Bank of Canada says there is strong support for its flexible inflation targeting and the two per cent target rate in a new report.
The central bank consulted with stakeholders and the general public as part of the renewal process for its monetary policy framework agreement with the federal government, which it undergoes every five years.
“It was important for the bank to hear from Canadians as part of this process because inflation and interest rate decisions affect their day-to-day lives,” governor Tiff Macklem said in a statement Thursday.
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