MNI BRIEF: Conservative O'Toole Backs 2% BOC Inflation Target

Conservative Party Leader Erin O'Toole backed continuing the Bank of Canada's 2% inflation target at an election stop Thursday, saying his Liberal opponent Justin Trudeau has ignored rising prices.

"I prefer keeping inflation low, and the target of 2% which is the current mandate is one we should continue, because it can have economic growth and allow Canadians to keep pace with rising costs of living," O'Toole said. The BOC's mandate agreement with the government is due for renewal this year and BOC policy makers have signaled it's unlikely to recommend any big changes.

MNI has reported that while inflation is a major voter concern, the campaign trail remedies so far may not give either leader a clear path to power. (See: MNI: Cost of Living Woes May Bring Canada Election Stalemate)