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The Bank of Canada plans to maintain its 2% inflation target but is studying the best methods to measure core inflation and how to incorporate housing costs into its monetary policy decisions. Bank of Canada Governor Tiff Macklem outlined some of the issues being considered in the upcoming review of the central bank's monetary policy framework. Due to the direct impact of interest rates on housing demand, "it is worth studying how monetary policy affects the dynamics of the housing sector and how to best incorporate housing affordability into our focus on overall price stability," Macklem said in prepared remarks. The Bank of Canada reviews its mandate every five years, with the next review scheduled for 2026. Macklem hinted that the central bank may adjust the way it assesses core inflation.