The Bank of Canada is responsible for controlling interest rates within the country. The goal is to keep inflation low by adjusting interest rates as necessary to ensure stable pricing, which helps keep Canadians investing and working without the worry of fluctuating rates. The Bank of Canada will raise or lower the interest rate in response to inflation; when inflation is high (as it is now), the Bank will raise the interest rate to curb borrowing and spending to lower inflation. On the other end, if inflation is low, the Bank will lower interest rates to stimulate borrowing and spending and reinvigorate the economy.