Canada caps immigration target amid housing crunch, inflation

An asylum seeker arrives by taxi to cross into Canada from the U.S. border on Roxham Road in Champlain, New York, U.S., February 25, 2023. REUTERS/Christinne Muschi

TORONTO (Reuters) -Canada's liberal government kept immigration targets unchanged for the next two years and said it would stop ramping up immigration from 2026 onwards, as the country grapples with high inflation and a housing crisis.

Canada is targeting 465,000 new residents this year, 485,000 in 2024 before hitting 500,000 in 2025 - a level it aims to maintain in 2026, Immigration Minister Marc Miller told reporters in Ottawa.