Speeches and appearances

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.

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.

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.

Governor Tiff Macklem explains that higher interest rates are working to slow inflation but warns that getting all the way back to the 2% target may take time. He also discusses the recent stress in the global banking sector and how financial stability and price stability work together.

Speaking a day after we decided to hold the policy rate, Senior Deputy Governor Carolyn Rogers talks about the factors behind high inflation and how we know inflation is falling.