The Financial Post reports in its Thursday, Aug. 28, edition that Bank of Canada governor Tiff Macklem states that policy-makers will prioritize housing affordability as they prepare to renew the monetary policy framework next year. The Post's Jordan Gowling writes that Mr. Macklem noted that while addressing housing supply is mainly a government issue, monetary policy influences housing demand through interest rates. He said during a speech in front of Mexico's central bank in Mexico City on Tuesday: "Housing is a big part of the consumer price index in Canada, so the cost of housing affects inflation. Therefore, it's worth examining how monetary policy affects housing sector dynamics and how best to factor housing affordability into our focus on overall price stability." The BOC goes through a renewal process of its mandate with the federal government every five years. Mr. Macklem in February said the 2 per cent inflation target should be maintained in the 2026 review and reiterated his position during his speech. Mr. Macklem outlined priorities for policy-makers, including how monetary policy should respond to supply shocks and improve evaluation of underlying inflation.