The comfort zone the bank sets for its inflation target helps determine what happens to its key policy interest rate, which can affect the rates charged for mortgages and loans.
“When people and businesses feel confident that they know what the rate of inflation will be, they can make better long-range plans for their careers, their savings and their investments.” Research the bank has conducted with Statistics Canada during the pandemic has suggested that price increases are close to official inflation readings even when accounting for differences in purchasing based on household makeup, income level, education, age, and renters versus owners, Schembri says.Article content continued
Inflation number has always been cooked. It’s a farce BoC says its trying to accurately communicate this to the public. Groceries are a new cost?! 6% is closer to reality, with no substantial pay increases for years, and heavy taxing. Remember when air was free at a gas station?
Lol, a central bank
They don’t.
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