Monetary Policy Framework Issues: Toward the 2021 Inflation-Target Renewal

See #BoC2021 on Twitter to follow the discussion about this workshop.

The primary goal of this day-long workshop was to explore a range of issues related to monetary policy frameworks – namely the role and objectives of monetary policy, the specification and effectiveness of monetary policy tools, transparency and communications, and lessons learned from other central banks. Examining these topics will help shape the Bank’s broader research agenda, including issues that may be relevant for the 2021 renewal of the inflation-control agreement with the Government of Canada.

The workshop, which took place at the Bank of Canada, comprised a series of lively and thought-provoking panel discussions. Webcast live, the invited audience included academics, other central bankers, private sector economists and financial market experts, labour union representatives, senior officials from government departments and Crown agencies, representatives from policy think tanks, and the media.

Senior Deputy Governor Carolyn A. Wilkins explains the motivation for the workshop.

Bank of Canada Workshop Summary

The day-long workshop, held at the Bank, brought out wide-ranging views on the goals of monetary policy, the effectiveness of monetary policy tools, the role of transparency and communications, and lessons learned from other central banks.

Carolyn A. Wilkins Closing Remarks

Senior Deputy Governor Carolyn A. Wilkins reviews key themes discussed by participants at the workshop “Monetary Policy Framework Issues: Toward the 2021 Inflation-Target Renewal”.


Workshop proceedings


Agenda

Thursday, 14 September 2017

08:50 - 09:00 Welcome Remarks

Lawrence Schembri (Bank of Canada)

09:00 - 10:15 The Role and Objectives of Canadian Monetary Policy

Chair: Rhys Mendes (Bank of Canada)

10:45 - 12:00 The Scope and Effectiveness of Monetary Policy Tools

Chair: Sylvain Leduc (Bank of Canada)

13:30 - 14:45 Monetary Policy Transparency and Communication

Chair: Timothy Lane (Bank of Canada)

15:15 - 16:45 Lessons from Other Central Banks

Chair: Carolyn A. Wilkins (Bank of Canada)

16:45 Closing Remarks

Carolyn A. Wilkins (Bank of Canada)

Content Type(s): Conference