Monetary policy framework - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T14:21:07+00:00How higher interest rates affect inflation
https://www.bankofcanada.ca/2023/12/how-higher-interest-rates-affect-inflation/
When the Bank of Canada changes its policy interest rate, it affects every part of the economy – but that does not happen all at once. Learn more about how raising and lowering interest rates takes effect through the monetary policy transmission mechanism.2023-12-21T11:00:28+00:00enHow higher interest rates affect inflation2023-12-21Staying the course
https://www.bankofcanada.ca/2023/09/staying-the-course-2/
Speaking a day after we decided to maintain the policy interest rate at 5%, Governor Tiff Macklem explores some key factors behind the decision. He also explains why the 2% inflation target supports a stable economy and greater prosperity for households and businesses.2023-09-07T16:15:52+00:00Staying the course2023-09-07Tiff MacklemEconomic progress report: Target in sight, but we’re not there yet
https://www.bankofcanada.ca/2023/09/economic-progress-report-target-in-sight-but-were-not-there-yet/
Bank of Canada Governor Tiff Macklem talks about the Bank’s latest interest rate announcement and what’s happening with inflation beyond the headline numbers. He also discusses why the Bank’s 2% inflation target is the right one.2023-09-07T13:55:45+00:00Economic progress report: Target in sight, but we’re not there yet2023-09-07Tiff MacklemGazing at r-star: A Hysteresis Perspective
https://www.bankofcanada.ca/2023/01/staff-working-paper-2023-5/
Many explanations for the decline in real interest rates over the last 30 years point to the role that population aging or rising income inequality plays in increasing the long-run aggregate demand for assets. Notwithstanding the importance of such factors, the starting point of this paper is to show that the major change driving household asset demand over this period is instead an increased desire—for a given age and income level—to hold assets.2023-01-12T09:46:25+00:00enGazing at r-star: A Hysteresis Perspective2023-01-12Economic modelsFiscal policyInflation and pricesInflation targetsInterest ratesMonetary policyMonetary policy frameworkStaff Working Paper 2023-5https://www.bankofcanada.ca/wp-content/uploads/2023/01/swp2023-5.pdfGazing at r-star: A Hysteresis PerspectivePaul BeaudryKatya KartashovaCésaire MehJanuary 2023EE2E21E3E31E4E43E5E52E58E6E62GG5G51HH6Getting back to stable prices and a balanced jobs market
https://www.bankofcanada.ca/2022/11/getting-back-to-stable-prices-and-a-balanced-jobs-market/
Governor Tiff Macklem discusses the relationship between inflation and employment and how the Bank of Canada is working to cool an overheated economy.2022-11-10T15:13:12+00:00Getting back to stable prices and a balanced jobs market2022-11-10Tiff MacklemRestoring labour market balance and price stability
https://www.bankofcanada.ca/2022/11/restoring-labour-market-balance-and-price-stability/
Governor Tiff Macklem outlines the link between high inflation and tight labour markets. He explains how the Bank is working to rebalance the labour market and discusses how structural changes may influence the supply of workers in Canada.2022-11-10T11:55:38+00:00Restoring labour market balance and price stability2022-11-10Tiff MacklemHarnessing the benefit of state-contingent forward guidance
https://www.bankofcanada.ca/2022/09/staff-analytical-note-2022-13/
A low level of the neutral rate of interest increases the likelihood that a central bank’s policy rate will reach its effective lower bound (ELB) in future economic downturns. In a low neutral rate environment, using an extended monetary policy toolkit including forward guidance helps address the ELB challenge. Using the Bank’s Terms-of-Trade Economic Model, we assess the benefits and limitations of a state-contingent forward guidance implemented within a flexible inflation targeting framework.2022-09-26T11:27:58+00:00enHarnessing the benefit of state-contingent forward guidance2022-09-26A Horse Race of Monetary Policy Regimes: An Experimental Investigation
https://www.bankofcanada.ca/2022/07/staff-working-paper-2022-33/
How should central banks design monetary policy in stable times and during recessions? We run a horse race between five monetary policy frameworks in an experimental laboratory to assess how well the different approaches can manage the public’s expectations and stabilize the economy.2022-07-15T10:06:31+00:00enA Horse Race of Monetary Policy Regimes: An Experimental Investigation2022-07-15Inflation targetsMonetary policyMonetary policy communicationsMonetary policy frameworkStaff Working Paper 2022-33https://www.bankofcanada.ca/wp-content/uploads/2022/07/swp2022-33.pdfStaff Working Paper 2022-33Olena KostyshynaLuba PetersenJing YangJuly 2022CC9DD8D84EE5E52E58Household differences and why they matter
https://www.bankofcanada.ca/2022/07/household-differences/
Differences in income, wealth and debt across households are important—for the economy, for the health of the financial system and for monetary policy.2022-07-04T14:00:03+00:00enHousehold differences and why they matter2022-07-04The Bank of Canada: A matter of trust
https://www.bankofcanada.ca/2022/05/bank-canada-matter-trust/
Senior Deputy Governor Carolyn Rogers discusses how the Bank of Canada’s independence and accountability help build public trust.2022-05-03T12:45:12+00:00The Bank of Canada: A matter of trust2022-05-03Carolyn Rogers