News

This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on January 24, 2024.

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.

The Bank of Canada is pleased to announce the Université de Sherbrooke has won the ninth annual Governor’s Challenge, a national student competition in which teams simulate the role of advisor to the Bank’s Governing Council.

The Market Participants Survey results are based on questionnaire responses from about 30 financial market participants.