Speech: Montreal Council on Foreign Relations (CORIM)

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.

Governor Tiff Macklem discusses how monetary policy is working to bring inflation down—and how it has worked to return inflation to target over the last 25 years. He also talks about the limits of monetary policy, and why the right focus is on controlling inflation in the medium term.

The effectiveness and the limitations of monetary policy — Governor Tiff Macklem takes questions from reporters following his remarks (14:10 (ET) approx.).