September 30, 2015 Overnight reverse repos The Bank conducts overnight reverse repo (ORR) operations to ensure the effective implementation of our monetary policy framework. These operations withdraw liquidity intraday, reinforcing the Bank’s target for the overnight rate.
Making It Real: Bringing Research Models into Central Bank Projections Staff discussion paper 2023-29 Marc-André Gosselin, Sharon Kozicki Macroeconomic projections and risk analyses play an important role in guiding monetary policy decisions. Models are integral to this process. This paper discusses how the Bank of Canada brings research models and lessons learned from those models into the central bank projection environment. Content Type(s): Staff research, Staff discussion papers JEL Code(s): C, C3, C32, C5, C51, E, E3, E37, E4, E47, E5, E52 Research Theme(s): Models and tools, Economic models, Monetary policy, Monetary policy framework and transmission, Real economy and forecasting
August 26, 2025 Inflation targeting: A framework for today and tomorrow Speech summary Tiff Macklem Bank of Mexico 100ᵗʰ Anniversary Seminar Mexico City, Mexico Governor Tiff Macklem discusses how inflation targeting became a leading strategy among central banks for maintaining price stability. He also talks about structural change ahead, shifts in global trade and ensuring monetary policy is fit for the future. Content Type(s): Press, Speeches and appearances, Speech summaries Subject(s): Monetary policy, Economy/Economic growth, Inflation, Inflation targeting framework
April 2017 Annual Reassessment of Potential Output Growth in Canada Staff analytical note 2017-5 Andrew Agopsowicz, Bassirou Gueye, Natalia Kyui, Youngmin Park, Mohanad Salameh, Ben Tomlin This note summarizes the Bank of Canada’s annual reassessment of potential output growth, conducted for the April 2017 Monetary Policy Report. Potential output growth is projected to increase from 1.3 per cent in 2017 to 1.6 per cent by 2020. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E0, E00, E2, E22, E23, E24, E3, E37, E6 Research Theme(s): Monetary policy, Real economy and forecasting, Structural challenges, Demographics and labour supply
March 9, 2006 Temporary measures to reinforce the target for the overnight rate n the implementation of monetary policy, the Bank of Canada sets a target for the overnight interest rate. This rate is defined as the rate at which major participants in the money market borrow and lend one-day funds to each other. Content Type(s): Press, Market notices
May 18, 2016 The Governor's Challenge: Student resources Find information on our key publications and other resources for understanding Canada's monetary policy framework. Learn about possible economic data sources you can use and view last year's winning presentation.
June 13, 2024 Reviewing our pandemic actions Speech summary Sharon Kozicki Canadian Association for Business Economics Ottawa, Ontario Deputy Governor Sharon Kozicki talks about the importance of central bank transparency and accountability. She looks at the exceptional monetary policy measures the Bank of Canada used during the COVID-19 pandemic and analyzes their effectiveness. Content Type(s): Press, Speeches and appearances, Speech summaries Subject(s): Financial system, Financial stability, Monetary policy, Economy/Economic growth, Inflation targeting framework
Channels of Transmission: How Mortgage Rates Affect House Prices and Rents in Canada Staff analytical paper 2026-2 Nishaad Rao, Tao Wang We use Canadian data to examine how monetary policy affects house prices and the consumer price index for rent through exogenous changes in the mortgage interest rates. It finds that the price and rent impacts operate through various channels and that these impacts vary by region. Content Type(s): Staff research, Staff analytical paper JEL Code(s): E, E3, E31, E5, E52, R, R2, R21 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Monetary policy framework and transmission