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Review of the policy framework.
Promote a solid and efficient monetary system.
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The Bank expects an uptick in economic activity as the recovery rebounds, followed by a longer recovery phase.
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The asymmetrical effects of COVID-19 on other sectors and others in the economy: Tiff Macklem, governor of the Bank of Canada, speaks through a video convention to the Canadian Chamber of Commerce. (12:30 p. m. (East Time) approximately)
These forecasts are for the Governing Council in preparation of financial policy decisions. They are published once a year with a delay of five years.
Low, solid and predictable inflation is helping Canadians plan their spending and save money, and it also contributes to our economic and economic well-being. At the Bank of Canada, we are committed to achieving an inflation target of 2%. We use economic policy to keep inflation as close to this purpose as possible over time.
The continued achievement of our purpose contributes to the popular life of all Canadians. When other people and businesses are convinced of what the inflation rate will be, they can expand larger long-term plans for their careers, economies, and investments.
With our words and, more importantly, with our movements, we stand firm in our commitment to repair the Canadian economy and the economic and monetary well-being of all Canadians.