The wording of the Bank of Canada’s new mandate has changed but the substance of it remains essentially the same, several economists say.
Canadians can expect the country’s central bank to continue to aim for low, stable and predictable inflation. And when it comes to the impact of low interest rates on the housing market, it will be up to the government — not monetary policy — to get a handle on runaway home prices. Read more: Bank of Canada to maintain current inflation mandate In a joint press conference on Monday, Finance Minister Chrystia Freeland and Bank of Canada governor Tiff Macklem announced the details of the new five-year mandate, the compass that will guide the central bank’s monetary policy decisions until the end of