June 6, 2022
Explainers
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April 13, 2022
Understanding our policy interest rate
At the heart of the Bank of Canada’s monetary policy is the target for the overnight rate. See what it is—and what it means for you. -
December 24, 2021
Understanding the output gap
The output gap is the difference between what an economy actually produces and what it would produce in an ideal world. -
December 24, 2021
Understanding productivity
High productivity helps raise our standard of living and keep our economy competitive. -
May 19, 2021
Understanding the consumer price index
The consumer price index (CPI) tracks how much the average Canadian household spends, and how that changes over time. At the Bank of Canada, we use it to target inflation. -
April 5, 2021
Understanding how monetary policy works
It takes time for our policy decisions to filter—or be transmitted—through the economy and financial system. -
August 13, 2020
Understanding inflation targeting
At the Bank of Canada, we aim to keep inflation close to 2 percent. -
August 13, 2020
Understanding inflation
Inflation is a persistent rise in the average level of prices over time. -
August 13, 2020
Understanding exchange rates
The foreign exchange market determines how much the Canadian dollar is worth. At the Bank of Canada, we very rarely intervene to support its value. -
May 6, 2020
Understanding seigniorage
At the Bank of Canada, we cover the cost of day-to-day business with “seigniorage,” which means earning money from issuing bank notes.