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90 Results

March 3, 2022

Economic progress report: Controlling inflation

Remarks (delivered virtually) Tiff Macklem CFA Society Toronto Toronto, Ontario
Bank of Canada Governor Tiff Macklem talks about the Bank’s latest interest rate announcement and what’s driving inflation in Canada. He also discusses how the Bank will manage the next step in the Bank’s balance sheet operations – quantitative tightening.
March 3, 2022

Getting inflation back to target

Speech summary Tiff Macklem CFA Society Toronto Toronto, Ontario
Governor Tiff Macklem talks about the Bank of Canada’s decision yesterday to raise its policy interest rate. He explains that after two years of extraordinary stimulus, we are now on a path of rising interest rates.
December 15, 2021

Building on success

Speech summary Tiff Macklem Empire Club of Canada Toronto, Ontario
Governor Tiff Macklem speaks about the Bank of Canada’s monetary policy framework review and the agreement between the Government of Canada and the Bank to renew the 2 percent inflation target.
December 15, 2021

Our monetary policy framework: Continuity, clarity and commitment

Remarks (delivered virtually) Tiff Macklem Empire Club of Canada Toronto, Ontario
Governor Tiff Macklem discusses the Bank of Canada’s renewed monetary policy framework. He reviews Canada’s experience with flexible inflation targeting and explains why the Bank and the Government of Canada agreed to renew the 2 percent inflation target.

The impact of the Bank of Canada’s Government Bond Purchase Program

We assess the response of Government of Canada bond yields to the Bank of Canada’s initial announcement of the Government Bond Purchase Program (GBPP) as well as to the Bank’s later GBPP purchase operations.

More Money for Some: The Redistributive Effects of Open Market Operations

Staff Working Paper 2021-46 Christian Bustamante
I use a search-theoretic model of money to study how open market operations affect the conduct of monetary policy and what this means for households along the wealth distribution. In the model, households vary in the size and composition of their portfolios, which in turn implies that they may be unevenly affected by open market operations.
September 9, 2021

Monetary policy as the recovery progresses

Speech summary Tiff Macklem Fédération des chambres de commerce du Québec Montréal, Quebec
Governor Tiff Macklem talks about the Bank of Canada’s decision yesterday to leave the policy rate unchanged. He also talks about how the Bank could adjust monetary policy once the economy needs less support.
September 9, 2021

Economic progress report: Monetary policy for the recovery

Remarks (delivered virtually) Tiff Macklem Fédération des chambres de commerce du Québec Montréal, Quebec
Bank of Canada Governor Tiff Macklem talks about the Bank’s latest interest rate announcement and discusses how the Bank could adjust monetary policy and its quantitative easing program as the recovery progresses.
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