“Now is not the time to question the anchor that has proven so effective in achieving price stability,” governor Tiff Macklem said in a speech Friday hosted by Mississauga Board of Trade. The central bank’s next mandate review, due next year, will instead focus on how to assess “supply shocks,” whether there are better ways to measure inflation, and how monetary policy influences housing supply and demand, Macklem said. (The Logic)

Talking point: Macklem told The Logic a year ago that he intended to study whether the inflation target the central bank has used since the mid-1990s was still the right one. It was a concession to critics who insisted his post-pandemic inflation fight would have caused less collateral damage if he had been aiming for a higher target. But Macklem himself had always remained skeptical of the need for a change. With a trade war looming, he decided the central bank’s resources were needed for more pressing concerns.