That likely keeps Flaherty in the role until the spring of 2015, before the next federal election.
Speaking in Victoria, Flaherty says he's been the government's only finance minister and wants to be on the job when the Conservatives achieve their goal of a balanced budget.
The government's latest deficit projections, released earlier this month, moved Ottawa to delay its hopes of balancing the books until 2016-2017.
However both Flaherty and Prime Minister Stephen Harper have insisted since that the government can still balance the budget by 2015.
On Monday, Flaherty joined Mark Carney to deliver the news that the Bank of Canada governor will assume the top job at the Bank of England next year.
Also on HuffPost