According to Reuters, the Bank of Canada will leave its inflation target at 2.0%, the mid-point of a 1.0%-3.0% range, in a soon-to-be-announced review of its monetary policy framework. However, the bank will include new language on the importance of employment to the economy. 

According to the source cited by Reuters, "the upcoming announcement will be a very clear reaffirmation of the centrality of the inflation target". "But it's not a photocopy of last time" the source continued, "there's a little bit of updating to reflect what the bank is already doing - some updating of the language to reflect the consideration the bank is already giving to employment factors". 

Market Reaction

The loonie did not see any notable reaction to the story reported by Reuters.