June 21, 2006 Credibility with Flexibility: The Evolution of Inflation-Targeting Regimes, 1990–2006 Bank of Canada Review - Summer 2006 Graydon Paulin Beginning with a review of the adoption of inflation targeting in a broad group of countries, Paulin focuses on changes in the design of inflation-targeting frameworks in light of fifteen years of accumulated experience. Included in the discussion are the use of numerical targets and ranges, the policy horizon, supporting institutional policy structures, and communication, including the publication of forecasts. A recurring theme is how much flexibility an inflation-targeting regime allows. The article concludes that the changes made to the frameworks have been relatively modest since their adoption, but in concert with the improved credibility that has resulted from central banks meeting their inflation-control targets, they have allowed an increasingly nuanced response to economic shocks. Content Type(s): Publications, Bank of Canada Review articles
April 13, 2026 Reconciliation Action Plan—2025 report The Bank of Canada published its Reconciliation Action Plan in the autumn of 2024. As of January 2026, we have started over 75% of the projects supporting the plan’s five goals and have completed almost 15% of them.
December 12, 2005 Governor Dodge Reviews Canada's Inflation-Targeting Framework Media Relations Regina, Saskatchewan In a speech to the Regina Chamber of Commerce, Bank of Canada Governor David Dodge said that Canada's economic record over the past 15 years demonstrates the value of focusing monetary policy on keeping inflation low, stable, and predictable. Content Type(s): Press, Press releases
October 3, 2025 The difference between the price level and inflation Price levels are a measure of the average cost of goods and services in the economy at a particular point in time. Inflation measures the rate of change in prices over a specific period. Content Type(s): Explainers Subject(s): Monetary policy, Economy/Economic growth, Inflation, Inflation targeting framework
August 31, 2016 Students and recent grads Discover career-launching opportunities for students and recent graduates in various fields.
Anticipating changes in bank capital buffer requirements Staff analytical note 2025-27 Josef Schroth Time-varying capital buffer requirements are a powerful tool that allow bank regulators to avoid severe financial stress without the cost of imposing very high levels of capital. However, this tool is only effective if banks understand how it is used. I present a model that banks and financial market participants can use to anticipate how time-varying capital buffer requirements change over time. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E1, E13, E3, E32, E4, E44 Research Theme(s): Financial system, Financial institutions and intermediation, Financial system regulation and oversight
July 24, 2002 Bank of Canada Releases Monetary Policy Report Update Media Relations The Bank of Canada today released its Update to the April Monetary Policy Report, in which it discusses economic and financial trends in the context of Canada's inflation-control strategy. Content Type(s): Press, Press releases
May 29, 2007 Bank of Canada keeps target for the overnight rate at 4 1/4 per cent Media Relations Ottawa, Ontario The Bank of Canada today announced that it is maintaining its target for the overnight rate at 4 1/4 per cent. Content Type(s): Press, Press releases
April 20, 1999 Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce Opening statement Gordon Thiessen Standing Senate Committee on Banking, Trade and Commerce Since we have recently tabled the Bank of Canada’s Annual Report in Parliament, I would also be happy to answer any questions you may have about our stewardship of the Bank. Content Type(s): Press, Speeches and appearances, Opening statements
Good Volatility, Bad Volatility and Option Pricing Staff working paper 2017-52 Bruno Feunou, Cédric Okou Advances in variance analysis permit the splitting of the total quadratic variation of a jump diffusion process into upside and downside components. Recent studies establish that this decomposition enhances volatility predictions, and highlight the upside/downside variance spread as a driver of the asymmetry in stock price distributions. Content Type(s): Staff research, Staff working papers JEL Code(s): G, G1, G12 Research Theme(s): Financial markets and funds management, Market functioning, Models and tools, Econometric, statistical and computational methods