Bank of Canada to Unveil New Inflation Mandate on Monday

(Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.

Prime Minister Justin Trudeau’s government is ready to announce the Bank of Canada’s new inflation targeting mandate.

Trudeau’s finance minister, Chrystia Freeland, will hold a joint news conference with Governor Tiff Macklem on Monday at 11 a.m. in Ottawa, according to an advisory from her office. The central bank has scheduled an embargoed briefing for journalists beforehand, and will publish the documents at 10 a.m.

The new mandate, which comes after seven months of consumer price gains beyond the Bank of Canada’s control range, is expected to retain the existing 2% target. It will also include some new language around employment, Bloomberg News reported Thursday.

The current mandate expires on Dec. 31. 

©2021 Bloomberg L.P.