Renewal of the Inflation Target Agreement - Rescheduled

Rhys Mendes

The Government of Canada and the Bank of Canada have renewed Canada’s inflation-control target for a further five-year period, ending 31 December 2021. Under this agreement, the Bank will continue to conduct monetary policy aimed at keeping inflation, as measured by the total consumer price index (CPI), at 2 per cent, with a control range of 1 to 3 per cent around this target. Each time the inflation-control agreement is renewed, the Bank carefully reassesses important aspects of the targeting framework. For the 2016 renewal, the Bank focused its review and research on the following three questions:

  • Should the 2 per cent inflation target be increased?
  • How should core inflation be measured and used?
  • To what extent should the conduct of monetary policy take into account financial stability considerations?

This webinar will review the Bank’s analysis related to these questions.

Join Rhys Mendes  in a webinar to discuss this key policy issue on April 3, 2017 at 11 a.m. Toronto Time.

Biographical Notes

Rhys R. Mendes was appointed Chief of Economic and Financial Research, effective June 2016. In this capacity, he works with policy department chiefs, research directors and their departmental teams to develop and execute a leading-edge research work plan to support all of the Bank of Canada’s policy functions.

Mr. Mendes joined the Bank in 2004 as an Economist in what was formerly the Monetary and Financial Analysis Department. In December 2005, he moved to the Research Department, now Canadian Economic Analysis (CEA). Before his current role, he was Deputy Chief of CEA, a position he was appointed to in 2013.

Born in Richmond Hill, Ontario, Mr. Mendes holds a PhD in economics from the University of Toronto.