Sharpening our insights

How do we take better-informed actions to reinforce Canadians’ trust?

Effective, evidence-based policy decisions require insights deepened by understanding. We will listen to Canadians’ diverse perceptions and concerns. At the same time, we will work hard to clearly explain the intent and relevance of the Bank’s objectives and what is needed to achieve them. More than ever, we are focused on turning insights into actions that inspire confidence.

Guide the Canadian economy to a complete recovery from the pandemic, fostering shared prosperity while enhancing our preparedness for future crises

Priorities

  • Work with international and domestic partners on the transition from crisis response through sustainable recovery to long-term resilience.
  • Optimize our monetary policy tools, and particularly our extended tool kit, for a post-pandemic economy.
  • Improve how we factor labour market conditions, economic equity and inclusion, and financial vulnerabilities into our economic assessments and policy decisions.

Improve our decision making by being better listeners

Priorities

  • Engage directly with a broader set of stakeholders to better understand their diverse points of view.
  • Integrate a wider array of perspectives from research, analysis and other sources into our work.

Build trust by clearly explaining our objectives and actions

Priorities

  • Expand the scope and reach of our educational programming on the economy and the role of the Bank.
  • Raise public awareness of, and support for, the Bank’s emerging areas of responsibility.
  • Increase our accountability and relevance through clear, accessible communications.

How we’ll measure success

  • Economic recovery: Inflation remains sustainably around 2 percent; output and labour market slack are fully absorbed.
  • Monetary policy tools: After completing a comprehensive review, we develop an extended policy tool kit and playbook for addressing future crises.
  • Stakeholder engagement: Our regular engagement with a more diverse set of stakeholders yields new perspectives that we are integrating into our work.
  • Public trust: Our expanded educational programming is reaching more Canadians, who show increased knowledge of, and trust in, the Bank.