Inflation targets

• The Power of Helicopter Money Revisited: A New Keynesian Perspective

  Staff Discussion Paper 2020-1 Thomas J. Carter, Rhys R. Mendes

  We analyze money financing of fiscal transfers (helicopter money) in two simple New Keynesian models: a “textbook” model in which all money is non-interest-bearing (e.g., all money is currency), and a more realistic model with interest-bearing reserves.

  Content Type(s): Staff Research, Staff Discussion Papers Topic(s): Credibility, Economic models, Fiscal Policy, Inflation targets, Interest rates, Monetary Policy, Monetary policy framework, Transmission of monetary policy, Uncertainty and monetary policy JEL Code(s): E, E1, E12, E4, E41, E43, E5, E51, E52, E58, E6, E61, E63
• January 30, 2020

  How vulnerabilities like debt can affect interest rates

  Paul Beaudry Laval University Québec, Québec

  Deputy Governor Paul Beaudry explains to students at Laval University why financial vulnerabilities—such as household debt—are important for the Bank of Canada when it sets interest rates.

  Content Type(s): Press, Speeches Topic(s): Central bank research, Credit risk management, Financial stability, Inflation targets, Interest rates, Monetary Policy, Monetary policy framework, Monetary policy implementation
• January 30, 2020

  Monetary Policy and Financial Vulnerabilities

  Remarks Paul Beaudry Université Laval Québec, Québec

  Deputy Governor Paul Beaudry discusses how financial vulnerabilities present a challenge for monetary policy.

  Content Type(s): Press, Speeches Topic(s): Central bank research, Credit risk management, Financial stability, Inflation targets, Interest rates, Monetary Policy, Monetary policy framework, Monetary policy implementation
• January 5, 2020

  Monetary Policy Frameworks in a World of Low Interest Rates

  Remarks Carolyn A. Wilkins American Economic Association San Diego

  Archived panel discussion hosted by the Bank for International Settlements at the American Economic Association’s 2020 Annual Meeting of Allied Social Science Associations.

  Content Type(s): Press, Speeches Topic(s): Inflation targets, Monetary policy framework
• December 12, 2019

  The Bank of Canada’s plans for 2020

  Stephen S. Poloz Empire Club of Canada Toronto, Ontario

  In his traditional year-end speech, Governor Stephen S. Poloz described some of the long-term forces affecting the global and Canadian economies that will shape the Bank’s work in 2020.

  Content Type(s): Press, Speeches Topic(s): Digital Currencies and Fintech, Economic models, Inflation targets, International topics, Monetary policy framework, Productivity
• December 12, 2019

  Big Issues Ahead: The Bank’s 2020 Vision

  Remarks Stephen S. Poloz Empire Club of Canada Toronto, Ontario

  Governor Stephen S. Poloz discusses how long-term global economic forces will drive the Bank of Canada’s work agenda in 2020 and beyond.

  Content Type(s): Press, Speeches Topic(s): Digital Currencies and Fintech, Economic models, Inflation targets, International topics, Monetary policy framework, Productivity
• September 5, 2019

  Economic Progress Report: Inflation in Canada—Well Behaved and Well Controlled

  Remarks Lawrence L. Schembri Halifax Regional Chamber of Commerce Halifax, Nova Scotia

  Deputy Governor Lawrence Schembri discusses the Bank’s latest interest rate announcement and the behaviour of inflation in Canada.

  Content Type(s): Press, Speeches Topic(s): Inflation and prices, Inflation targets, Monetary Policy, Monetary policy framework, Recent economic and financial developments
• September 5, 2019

  Canadian economy resilient even as global outlook worsens

  Lawrence L. Schembri Halifax Chamber of Commerce Halifax, Nova Scotia

  Speaking a day after we decided to hold interest rates steady, Deputy Governor Lawrence Schembri discussed the key points Governing Council considered in their decision.

  Content Type(s): Press, Speeches Topic(s): Inflation and prices, Inflation targets, Monetary Policy, Monetary policy framework, Recent economic and financial developments

• The Effects of Inflation Targeting for Financial Development

  Staff Analytical Note 2019-21 Geoffrey R. Dunbar, Amy (Qijia) Li

  The adoption of inflation targeting (IT) by central banks leads to an increase of 10 to 20 percent in measures of financial development, with a lag. We also find evidence that the financial sector benefits of IT adoption were higher for early-adopting central banks.

  Content Type(s): Staff Research, Staff Analytical Notes Topic(s): Financial Institutions, Inflation targets, Transmission of monetary policy JEL Code(s): E, E4, E44, E5, E58
• June 17, 2019

  Flexible Exchange Rates, Commodity Prices and Price Stability

  Remarks Lawrence L. Schembri Economics Society of Northern Alberta (ESNA) Edmonton, Alberta

  Deputy Governor Lawrence Schembri speaks before the Economics Society of Northern Alberta (ESNA).

  Content Type(s): Press, Speeches Topic(s): Exchange rate regimes, Exchange rates, Financial markets, Inflation targets, Monetary policy framework