Deputy Governor Lawrence Schembri talks about changes to the labour market, and how the pandemic affected Canadian workers. He also discusses how the Bank is adapting labour market analysis tools to help guide monetary policy decisions that will support a more inclusive recovery.
Deputy Governor Lawrence Schembri discusses how the Canadian labour market has changed during the pandemic. He explains why better tools to measure the health of the job market will help the Bank of Canada set monetary policy that supports the recovery.
We investigate the economic forces behind the secular decline in bond yields. Before the anchoring of inflation in the mid-1990s, nominal shocks drove inflation, output and bond yields. Afterward, the impacts of nominal shocks were much less significant.
Central banks conduct research involving in-depth interviews with external parties—but little is known about how this information affects monetary policy. We address this gap by analyzing open-ended interviews with senior central bank economic and policy staff who work closely with policy decision-makers.
Remarks (delivered virtually)Carolyn A. WilkinsBank 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.
Remarks (delivered virtually)Carolyn A. WilkinsBank 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.
In a lecture capping off his time as Governor, Stephen S. Poloz discusses how the Bank uses a risk management approach to deal with uncertainty about risks such as the ones associated with the COVID-19 pandemic.