December 16, 2024 Lessons for the future Speech summary Tiff Macklem Greater Vancouver Board of Trade Vancouver, British Columbia In his year-end remarks, Governor Tiff Macklem discusses what the Bank of Canada learned from the pandemic experience and outlines how the Bank is preparing for a more uncertain future. Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Coronavirus disease (COVID-19), Economic models, Expectations, Inflation and prices, Inflation targets, International topics, Monetary policy, Monetary policy communications, Monetary policy framework
December 16, 2024 Delivering price stability: Learning from the past, preparing for the future Remarks Tiff Macklem Greater Vancouver Board of Trade Vancouver, British Columbia Governor Tiff Macklem reflects on the lessons learned from the pandemic and its aftermath and outlines how the Bank is preparing for the challenges of the future. Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Coronavirus disease (COVID-19), Economic models, Expectations, Inflation and prices, Inflation targets, International topics, Monetary policy, Monetary policy communications, Monetary policy framework
November 26, 2024 Keeping inflation at 2% Speech summary Rhys R. Mendes Greater Charlottetown Area Chamber of Commerce Charlottetown, Prince Edward Island In his first public speech as a deputy governor, Rhys Mendes explains why higher interest rates were needed to get inflation back down to the 2% target and why we want it to stay there. Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Credibility, Expectations, Inflation and prices, Inflation targets, Interest rates, Monetary policy, Monetary policy communications, Price stability
November 26, 2024 Sticking the landing: Keeping inflation at 2% Remarks Rhys R. Mendes Greater Charlottetown Area Chamber of Commerce Charlottetown, Prince Edward Island Deputy Governor Rhys Mendes discusses how monetary policy worked to bring inflation back down to target and why the Bank wants inflation to stay close to 2%. Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Credibility, Expectations, Inflation and prices, Inflation targets, Interest rates, Monetary policy, Monetary policy communications, Price stability
How Do Households Respond to Expected Inflation? An Investigation of Transmission Mechanisms Staff Working Paper 2024-44 Janet Hua Jiang, Rupal Kamdar, Kelin Lu, Daniela Puzzello We conduct surveys to study how consumer spending responds to higher inflation expectations. Most respondents spend the same, sticking to fixed budget plans or not considering inflation for spending decisions. About 20% decrease spending because they feel poorer and cut spending to invest in inflation-proof assets. Very few increase spending. Content Type(s): Staff research, Staff working papers Topic(s): Central bank research, Inflation and prices, Inflation targets, Monetary policy, Monetary policy transmission JEL Code(s): D, D1, D15, D8, D84, E, E2, E5, E52, E7
September 19, 2024 Monetary policy decision-making: Behind the scenes Remarks Nicolas Vincent Sherbrooke Chamber of Commerce and Industry Sherbrooke, Quebec External Deputy Governor Nicolas Vincent gives a behind the scenes look at the rigorous research, analysis and debate that go into every monetary policy decision. Content Type(s): Press, Speeches and appearances Topic(s): Central bank research, Credibility, Economic models, Inflation and prices, Inflation targets, Monetary policy, Monetary policy and uncertainty, Monetary policy communications, Monetary policy framework, Monetary policy transmission
September 19, 2024 Getting to a monetary policy decision Speech summary Nicolas Vincent Sherbrooke Chamber of Commerce and Industry Sherbrooke, Quebec External Deputy Governor Nicolas Vincent gives a behind-the-scenes look at how the Bank of Canada’s Governing Council arrives at its monetary policy decisions. Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Central bank research, Credibility, Economic models, Inflation and prices, Inflation targets, Monetary policy, Monetary policy and uncertainty, Monetary policy communications, Monetary policy framework, Monetary policy transmission
July 9, 2024 What drives up the price of groceries Weather, energy prices, and labour and import costs all contribute to higher grocery prices Content Type(s): Publications, The Economy, Plain and Simple Topic(s): Exchange rates, Inflation and prices, Inflation targets, Labour markets
June 13, 2024 Reviewing our pandemic actions Speech summary Sharon Kozicki Canadian Association for Business Economics Ottawa, Ontario Deputy Governor Sharon Kozicki talks about the importance of central bank transparency and accountability. She looks at the exceptional monetary policy measures the Bank of Canada used during the COVID-19 pandemic and analyzes their effectiveness. Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Central bank research, Coronavirus disease (COVID-19), Credibility, Economic models, Financial stability, Inflation and prices, Inflation targets, Interest rates, Monetary policy, Monetary policy and uncertainty, Monetary policy communications, Recent economic and financial developments
June 13, 2024 Exceptional policies for an exceptional time: From quantitative easing to quantitative tightening Remarks Sharon Kozicki Canadian Association of Business Economics Ottawa, Ontario Deputy Governor Sharon Kozicki discusses the use of exceptional monetary policy tools during the COVID-19 pandemic, as well as the Bank’s commitment to transparency and accountability. Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Central bank research, Coronavirus disease (COVID-19), Credibility, Economic models, Financial stability, Inflation and prices, Inflation targets, Interest rates, Monetary policy, Monetary policy and uncertainty, Monetary policy communications, Recent economic and financial developments