In this paper we explore the nexus between cross-border trade integration and monetary policy. We first review the evidence that trade liberalization has increased the degree of integration in North America and conclude that, while robust structural inferences remain elusive, there is sufficient supporting evidence for central banks to treat the issue seriously.
Governor Stephen S. Poloz talks about the adjustments that savers and companies need to make in response to low interest rates, and economic policies that can help.
Senior Deputy Governor Carolyn Wilkins discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR.
Governor Stephen S. Poloz discusses how the mix of monetary and fiscal policies in an economy has important implications for debt levels and financial stability over the medium term.