Change theme
Change theme

Search

Content Types

Topics

JEL Codes

Locations

Departments

Authors

Sources

Statuses

Published After

Published Before

219 Results

December 21, 2023

How higher interest rates affect inflation

When the Bank of Canada changes its policy interest rate, it affects every part of the economy – but that does not happen all at once. Learn more about how raising and lowering interest rates takes effect through the monetary policy transmission mechanism.
September 7, 2023

Staying the course

Speech summary Tiff Macklem Calgary Chamber of Commerce Calgary, Alberta
Speaking a day after we decided to maintain the policy interest rate at 5%, Governor Tiff Macklem explores some key factors behind the decision. He also explains why the 2% inflation target supports a stable economy and greater prosperity for households and businesses.
September 7, 2023

Economic progress report: Target in sight, but we’re not there yet

Remarks Tiff Macklem Calgary Chamber of Commerce Calgary, Alberta
Bank of Canada Governor Tiff Macklem talks about the Bank’s latest interest rate announcement and what’s happening with inflation beyond the headline numbers. He also discusses why the Bank’s 2% inflation target is the right one.

Gazing at r-star: A Hysteresis Perspective

Staff Working Paper 2023-5 Paul Beaudry, Katya Kartashova, Césaire Meh
Many explanations for the decline in real interest rates over the last 30 years point to the role that population aging or rising income inequality plays in increasing the long-run aggregate demand for assets. Notwithstanding the importance of such factors, the starting point of this paper is to show that the major change driving household asset demand over this period is instead an increased desire—for a given age and income level—to hold assets.
November 10, 2022

Getting back to stable prices and a balanced jobs market

Speech summary Tiff Macklem Public Policy Forum Toronto, Ontario
Governor Tiff Macklem discusses the relationship between inflation and employment and how the Bank of Canada is working to cool an overheated economy.
November 10, 2022

Restoring labour market balance and price stability

Remarks Tiff Macklem Public Policy Forum Toronto, Ontario
Governor Tiff Macklem outlines the link between high inflation and tight labour markets. He explains how the Bank is working to rebalance the labour market and discusses how structural changes may influence the supply of workers in Canada.

Harnessing the benefit of state-contingent forward guidance

Staff Analytical Note 2022-13 Vivian Chu, Yang Zhang
A low level of the neutral rate of interest increases the likelihood that a central bank’s policy rate will reach its effective lower bound (ELB) in future economic downturns. In a low neutral rate environment, using an extended monetary policy toolkit including forward guidance helps address the ELB challenge. Using the Bank’s Terms-of-Trade Economic Model, we assess the benefits and limitations of a state-contingent forward guidance implemented within a flexible inflation targeting framework.

A Horse Race of Monetary Policy Regimes: An Experimental Investigation

Staff Working Paper 2022-33 Olena Kostyshyna, Luba Petersen, Jing Yang
How should central banks design monetary policy in stable times and during recessions? We run a horse race between five monetary policy frameworks in an experimental laboratory to assess how well the different approaches can manage the public’s expectations and stabilize the economy.
July 4, 2022

Household differences and why they matter

Differences in income, wealth and debt across households are important—for the economy, for the health of the financial system and for monetary policy.
May 3, 2022

The Bank of Canada: A matter of trust

Remarks Carolyn Rogers Women in Capital Markets Toronto, Ontario
Senior Deputy Governor Carolyn Rogers discusses how the Bank of Canada’s independence and accountability help build public trust.
Go To Page