Inflation targets

• August 26, 2020

  Towards the 2021 renewal of the Bank of Canada’s Monetary Policy Framework

  As part of the 2021 renewal of the Bank of Canada’s inflation-control agreement with the Government of Canada, Bank staff are currently comparing several monetary policy frameworks. The primary goal of this day-long workshop is to share—and receive comments on—these comparisons.

  Content Type(s): Conferences Topic(s): Inflation targets, Monetary policy, Monetary policy framework
• August 26, 2020

  Closing remarks

  Remarks (delivered virtually) Carolyn A. Wilkins Bank of Canada Workshop: “Toward the 2021 Renewal of the Monetary Policy Framework” Ottawa, Ontario

  Senior Deputy Governor Carolyn A. Wilkins concluded a day-long workshop on the renewal of the monetary policy framework with a summary of the discussions, and she outlined next steps on the path to the 2021 renewal.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Central bank research, Inflation targets, Monetary policy, Monetary policy and uncertainty, Monetary policy framework
• August 26, 2020

  Opening remarks

  Remarks (delivered virtually) Carolyn A. Wilkins Bank of Canada Workshop: “Toward the 2021 Renewal of the Monetary Policy Framework” Ottawa, Ontario

  Senior Deputy Governor Carolyn A. Wilkins discusses the challenges the Bank of Canada is facing as it seeks to renew its inflation-control target in 2021. Kicking off a day-long workshop on the renewal of the monetary policy framework, she explains how the Bank’s research on alternative frameworks is shaping up and invites discussion of how the COVID-19 crisis has changed what is known about alternative policy tools in action.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Central bank research, Inflation targets, Monetary policy, Monetary policy and uncertainty, Monetary policy framework
• August 25, 2020

  The gap between inflation perceptions and reality

  Speech summary Lawrence L. Schembri Canadian Association for Business Economics Kingston, Ontario

  Deputy Governor Lawrence Schembri talks about the difference between how Canadians perceive inflation and the actual measured rate, why this gap may exist, and what it could mean for monetary policy and the economy.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Central bank research, Coronavirus disease (COVID-19), Inflation and prices, Inflation targets, Monetary policy
• August 25, 2020

  Perceived inflation and reality: understanding the difference

  Remarks (delivered virtually) Lawrence L. Schembri Canadian Association for Business Economics Kingston, Ontario

  In a virtual address to the Canadian Association for Business Economics, Deputy Governor Lawrence Schembri discusses the difference between how Canadians perceive inflation and the actual measured rate. He explains why that gap may exist and what it could mean for monetary policy and the economy.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Central bank research, Coronavirus disease (COVID-19), Inflation and prices, Inflation targets, Monetary policy
• August 13, 2020

  Understanding the consumer price index

  The consumer price index (CPI) tracks how much the average Canadian household spends, and how that changes over time. At the Bank of Canada, we use it to target inflation.

  Content Type(s): Explainers Topic(s): Inflation and prices, Inflation targets
• August 13, 2020

  Understanding inflation targeting

  At the Bank of Canada, we aim to keep inflation close to 2 percent.

  Content Type(s): Explainers Topic(s): Inflation and prices, Inflation targets

• Strengthening Inflation Targeting: Review and Renewal Processes in Canada and Other Advanced Jurisdictions

  Staff Discussion Paper 2020-7 Robert Amano, Thomas J. Carter, Lawrence L. Schembri

  We summarize the review and renewal process at four central banks (Reserve Bank of New Zealand, Bank of England, Sveriges Riksbank and the US Federal Reserve Bank) and compare them with the process at the Bank of Canada, which has been well-established since 2001.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Central bank research, Inflation targets, Monetary policy framework JEL Code(s): E, E5, E52, E58
• June 22, 2020

  Targeting inflation during the pandemic

  Speech summary Tiff Macklem Canadian Clubs and Cercles canadiens Ottawa, Ontario

  In his first speech, Governor Tiff Macklem explains how the Bank’s commitment to low, stable and predictable inflation has guided our actions during COVID-19.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Coronavirus disease (COVID-19), Inflation targets, Monetary policy, Monetary policy framework, Monetary policy implementation
• June 22, 2020

  Monetary policy in the context of COVID-19

  Remarks (delivered virtually) Tiff Macklem Canadian clubs and cercles canadiens Ottawa, Ontario

  Governor Tiff Macklem talks about the conduct of monetary policy in the context of COVID-19.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Coronavirus disease (COVID-19), Inflation targets, Monetary policy, Monetary policy framework, Monetary policy implementation