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The Bank of Canada aims to keep inflation at the 2 per cent target, the midpoint of the 1 to 3 per cent inflation-control target range. This target is expressed in terms of total CPI inflation, but the Bank uses a measure of core inflation as an operational guide. Core inflation provides a better measure of the underlying trend of inflation and tends to be a better predictor of future changes in the total CPI.
Indicators of Capacity and Inflation Pressures for Canada
Inflation-Control Target (backgrounder)
Inflation-Control Target: Definitions and Notes
Press release on the renewal of the inflation-control target
Renewal of the Inflation-Control Target: Background Information