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115 Results

Communicating Uncertainty in Monetary Policy

Staff Discussion Paper 2017-14 Sharon Kozicki, Jill Vardy
While central banks cannot provide complete foresight with respect to their future policy actions, it is in the interests of both central banks and market participants that central banks be transparent about their reaction functions and how they may evolve in response to economic developments, shocks, and risks to their outlooks.

Monetary Policy Under Uncertainty: Practice Versus Theory

Staff Discussion Paper 2017-13 Rhys R. Mendes, Stephen Murchison, Carolyn A. Wilkins
For central banks, conducting policy in an environment of uncertainty is a daily fact of life. This uncertainty can take many forms, ranging from incomplete knowledge of the correct economic model and data to future economic and geopolitical events whose precise magnitudes and effects cannot be known with certainty.
September 27, 2017

The Meaning of “Data Dependence”: An Economic Progress Report

Remarks Stephen S. Poloz St. John’s Board of Trade St. John's, Newfoundland and Labrador
Governor Stephen S. Poloz discusses how unknowns in Canada’s inflation outlook have made the Bank’s monetary policy particularly data dependent.
May 11, 2017

Why Is Global Business Investment So Weak? Some Insights from Advanced Economies

Various drivers of business investment can be used to explain the underwhelming performance of investment in advanced economies since the global financial crisis, particularly since 2014. The slow growth in aggregate demand cannot by itself explain the full extent of the recent weakness in investment, which appears to be linked primarily to the collapse of global commodity prices and a rise in economic uncertainty. Looking ahead, business investment growth is likely to remain slower than in the pre-crisis period, largely because of structural factors such as population aging.
April 12, 2017

Monetary Policy Report Press Conference Opening Statement

Senior Deputy Governor Carolyn A. Wilkins discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR.
March 21, 2017

Getting Down to Business: Investment and the Economic Outlook

Remarks Lawrence L. Schembri Greater Vancouver Board of Trade Vancouver, British Columbia
Deputy Governor Lawrence Schembri discusses the factors affecting business investment and the implications for the economic outlook.
January 31, 2017

Models and the Art and Science of Making Monetary Policy

Remarks Stephen S. Poloz University of Alberta School of Business Edmonton, Alberta
Governor Stephen S. Poloz discusses the evolution of economic models and the need for central bankers to apply judgment in using them.
January 18, 2017

Monetary Policy Report Press Conference Opening Statement

Governor Stephen S. Poloz discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR.
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