The Governor of the Bank of Canada, Macklem, stated that the inflation target will be maintained at 2%.

The Bank of Canada plans to maintain its 2% inflation target, but is studying the best way to measure core inflation and how to incorporate housing costs into its monetary policy decisions. Bank of Canada Governor Tiff Macklem previewed some of the issues being considered in the upcoming monetary policy framework review by the central bank. As interest rates have a direct impact on housing demand, "it is worth studying how monetary policy affects the dynamics of the housing sector, and how to best incorporate housing affordability into our focus on overall price stability," Macklem said in prepared remarks. The Bank of Canada reviews its mandate every five years, with the next review scheduled for 2026. Macklem hinted that the central bank may adjust how it assesses core inflation.