Monetary policy

• 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

  Our COVID-19 response: Large-scale asset purchases

  Paul Beaudry

  The Bank of Canada has taken many actions to support Canadians since the COVID-19 pandemic struck. These include large-scale asset purchases—buying a substantial amount of government bonds and other financial assets. Our purchases serve two purposes. They help key financial markets work properly, and they can help increase spending in the economy. This leads to more employment and stronger economic growth.

  Content Type(s): Publications, The Economy, Plain and Simple Topic(s): Coronavirus disease (COVID-19), Debt management, Financial markets, Financial stability, Inflation and prices, Interest rates, Market structure and pricing, Monetary policy, Monetary policy transmission
• 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

• COVID-19 and bond market liquidity: alert, isolation and recovery

  Staff Analytical Note 2020-14 Jean-Sébastien Fontaine, Hayden Ford, Adrian Walton

  The disruption due to COVID-19 reverberated through the bond markets in three phases. In the first phase, dealers met the rising demand for liquidity. In the second, dealers reduced the supply of liquidity, and trading conditions worsened significantly. Finally, the market returned to relative stability following several interventions by the Bank of Canada.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Coronavirus disease (COVID-19), Financial markets, Monetary policy JEL Code(s): E, E4
• June 24, 2020

  Bank of Canada contributes to new publications by the Network for Greening the Financial System

  As a member of the Central Banks and Supervisors Network for Greening the Financial System (NGFS), the Bank of Canada contributed to three publications that aim to improve global understanding of the impact of climate change on the financial system and world economy.

  Content Type(s): Publications, Financial System Hub articles Topic(s): Climate change, Economic models, Financial stability, International topics, Monetary policy
• 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
• June 18, 2020

  Spending patterns in a pandemic

  Speech summary Lawrence L. Schembri Greater Saskatoon Chamber of Commerce Saskatoon, Saskatchewan

  Deputy Governor Lawrence Schembri explains how household spending has changed because of COVID-19 and discusses why the Bank expects the recovery to have two phases.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Coronavirus disease (COVID-19), Domestic demand and components, Financial institutions, Financial services, Financial stability, Firm dynamics, Fiscal policy, Housing, Inflation and prices, Labour markets, Monetary policy, Recent economic and financial developments, Regional economic developments, Service sector