Monetary policy
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November 5, 2018
Making Sense of Markets
Governor Poloz discusses how the Bank uses financial market information in its monetary policy. -
Evaluating the Bank of Canada Staff Economic Projections Using a New Database of Real-Time Data and Forecasts
We present a novel database of real-time data and forecasts from the Bank of Canada’s staff economic projections. We then provide a forecast evaluation for GDP growth and CPI inflation since 1982: we compare the staff forecasts with those from commonly used time-series models estimated with real-time data and with forecasts from other professional forecasters and provide standard bias tests. -
October 31, 2018
Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce
Good afternoon, Mr. Chairman and committee members. Senior Deputy Governor Wilkins and I are pleased to be with you today to discuss the Bank’s Monetary Policy Report. At the time of our last appearance in April, our message was about the considerable economic progress that we had seen. We explained that after a lacklustre start […] -
October 30, 2018
Opening Statement before the House of Commons Standing Committee on Finance
Good afternoon, Mr. Chairman and committee members. Senior Deputy Governor Wilkins and I are pleased to be with you today to discuss the Bank’s Monetary Policy Report. At the time of our last appearance in April, our message was about the considerable economic progress that we had seen. We explained that after a lacklustre start […] -
September 27, 2018
Technological Disruption and Opportunity
Governor Poloz talks about how new digital technologies create opportunities in the economy and affect how the Bank conducts monetary policy. -
September 8, 2018
Investing in Monetary Policy Independence in a Small Open Economy
Governor Poloz discusses policies that can help central banks keep the ability to pursue independent monetary policy in a financially integrated global economy. -
September 6, 2018
An Update on Canada’s Economic Resilience
Senior Deputy Governor Wilkins discusses economic developments since the July Monetary Policy Report and Governing Council’s deliberations leading to yesterday’s policy rate decision. -
Weakness in Non-Commodity Exports: Demand versus Supply Factors
We use the Terms-of-Trade Economic Model (ToTEM) to conduct demand- and supply-driven simulations, both of which deliver weakness in Canadian non-commodity exports relative to foreign activity in line with recent data. -
What Is Restraining Non-Energy Export Growth?
This note summarizes the key findings from Bank of Canada staff analytical work examining the reasons for the recent weakness in Canadian non-energy exports. Canada steadily lost market share in US non-energy imports between 2002 and 2017, mostly reflecting continued and broad-based competitiveness losses.