Central Bank Communications Before, During and After the Crisis: From Open-Market Operations to Open-Mouth PolicyThe days when secrecy and opacity were the bywords of central banking are gone. The advent of inflation targeting in the early 1990s acted as the catalyst for enhanced transparency and communications in the conduct of monetary policy.
14 November 2013 Monetary Policy Decision Making at the Bank of CanadaThe process that the Bank of Canada follows to make its monetary policy decisions has evolved over time. This process is very information-intensive and collaborative, drawing on the expertise, judgment and analysis of many people. This article describes monetary policy decision making at the Bank, and discusses some common misconceptions about monetary policy and the process.
Monetary Policy - Explains the purpose of monetary policy and describes how it works.
Target For The Overnight Rate - Defines this important policy interest rate and describes the role it plays in influencing various market interest rates.
How Monetary Policy Works: The Transmission of Monetary Policy - Explains the process by which changes in the policy interest rate work their way through the economy and ultimately affect the rate of inflation.
Bank Rate - Explains what the Bank Rate is and its relationship to the target for the overnight rate.
Lending Rates - Outlines the factors that affect interest rates for commercial loans.