According to a report by Kyle Bakx and Meegan for CBC News, the Bank of Canada has paused its efforts to introduce a digital version of the Canadian dollar.

Canadian inflation matched the central bank’s target last month for the first time in more than three years, smoothing the road for further cuts in interest rates.

Canada's annual inflation rate reached the central bank's target in August at it cooled to 2%, its lowest level since February 2021, data showed on Tuesday. The closely watched core price measures also cooled to their lowest level in 40 months while month-on-month consumer prices deflated by 0.