Speech summaries

• March 21, 2024

  Getting to a new normal

  Speech summary Toni Gravelle CFA Society Toronto Toronto, Ontario

  Deputy Governor Toni Gravelle speaks about how the Bank of Canada will manage its balance sheet once quantitative tightening ends.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Coronavirus disease (COVID-19), Financial institutions, Financial markets, Financial system regulation and policies, Lender of last resort, Monetary policy implementation, Payment clearing and settlement systems, Recent economic and financial developments
• February 6, 2024

  Monetary policy: It’s perfectly imperfect

  Speech summary Tiff Macklem Montreal Council on Foreign Relations Montréal, Quebec

  Governor Tiff Macklem speaks about the effectiveness—and limitations—of monetary policy. He highlights how raising and lowering the policy interest rate ultimately keeps inflation low, stable and predictable, despite significant shocks to the economy.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Housing, Inflation targets, Inflation: costs and benefits, Interest rates, Monetary policy, Monetary policy implementation, Monetary policy transmission, Price stability, Productivity
• December 15, 2023

  Lessons learned and looking ahead

  Speech summary Tiff Macklem Canadian Club Toronto Toronto, Ontario

  In his year-end remarks, Governor Tiff Macklem discusses how lessons learned from recent economic volatility are reshaping the way the Bank of Canada conducts economic analysis and communicates with the public.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Economic models, Expectations, Inflation and prices, Inflation: costs and benefits, Interest rates, Labour markets, Monetary policy, Monetary policy and uncertainty, Monetary policy communications, Monetary policy transmission, Price stability
• December 7, 2023

  What population growth means for the economy and inflation

  Speech summary Toni Gravelle Windsor-Essex Regional Chamber of Commerce Windsor, Ontario

  Speaking a day after we decided to hold interest rates steady at 5%, Deputy Governor Toni Gravelle discusses immigration, inflation and the role that newcomers play in helping our economy grow.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Domestic demand and components, Housing, Inflation and prices, Interest rates, Labour markets, Monetary policy, Potential output, Price stability, Recent economic and financial developments
• November 22, 2023

  Fighting to get back to low inflation

  Speech summary Tiff Macklem Saint John Region Chamber of Commerce Saint John, New Brunswick

  Governor Tiff Macklem outlines how high inflation is hurting Canadians and how monetary policy is working to bring it down. He also explains why the Bank of Canada must stay the course in its inflation fight.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Inflation and prices, Inflation: costs and benefits, Interest rates, Labour markets, Monetary policy, Price stability
• November 9, 2023

  Getting used to higher interest rates

  Speech summary Carolyn Rogers Advocis Vancouver Vancouver, British Columbia

  Senior Deputy Governor Carolyn Rogers talks about why interest rates could settle at a higher level than Canadians are used to and why preparing early for that possible outcome is important.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Credit risk management, Financial institutions, Financial markets, Financial stability, Firm dynamics, Interest rates, Monetary and financial indicators, Recent economic and financial developments
• October 3, 2023

  How price setting influences inflation

  Speech summary Nicolas Vincent Chamber of Commerce of Metropolitan Montreal Montréal, Quebec

  Deputy Governor Nicolas Vincent talks about how companies set their prices, how those practices changed during the pandemic and why this remains a risk for inflation.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Firm dynamics, Inflation and prices, Price stability
• September 19, 2023

  Household differences and monetary policy

  Speech summary Sharon Kozicki University of Regina Regina, Saskatchewan

  Deputy Governor Sharon Kozicki talks about how differences in debt, income and savings across households shaped their experience through the COVID-19 pandemic and how this is affecting monetary policy now.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Housing, Inflation and prices, Interest rates, Monetary policy transmission, Price stability
• September 7, 2023

  Staying the course

  Speech summary Tiff Macklem Calgary Chamber of Commerce Calgary, Alberta

  Speaking a day after we decided to maintain the policy interest rate at 5%, Governor Tiff Macklem explores some key factors behind the decision. He also explains why the 2% inflation target supports a stable economy and greater prosperity for households and businesses.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Credibility, Domestic demand and components, Expectations, Firm dynamics, Inflation and prices, Inflation targets, Inflation: costs and benefits, Labour markets, Monetary policy, Monetary policy framework, Monetary policy transmission, Price stability, Recent economic and financial developments
• June 8, 2023

  Adjusting to higher interest rates

  Speech summary Paul Beaudry Greater Victoria Chamber of Commerce Victoria, British Columbia

  Speaking a day after we raised interest rates, Deputy Governor Paul Beaudry talks about what Governing Council considered in its decision. He also suggests reasons why long-term interest rates could remain higher than they were before the COVID-19 pandemic.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Central bank research, Coronavirus disease (COVID-19), Domestic demand and components, Expectations, Housing, Inflation and prices, Inflation targets, Interest rates, Labour markets, Monetary policy, Monetary policy transmission, Price stability, Recent economic and financial developments, Service sector