Credibility

• September 7, 2023

  Economic progress report: Target in sight, but we’re not there yet

  Remarks Tiff Macklem Calgary Chamber of Commerce Calgary, Alberta

  Bank of Canada Governor Tiff Macklem talks about the Bank’s latest interest rate announcement and what’s happening with inflation beyond the headline numbers. He also discusses why the Bank’s 2% inflation target is the right one.

  Content Type(s): Press, Speeches and appearances, Remarks 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 2, 2022

  Economic progress report: Navigating a high inflation environment

  Remarks (delivered virtually) Paul Beaudry Gatineau Chamber of Commerce Gatineau, Quebec

  Bank of Canada Deputy Governor Paul Beaudry talks about the Bank’s latest interest rate announcement and the importance of keeping inflation expectations well anchored to prevent high inflation from becoming entrenched.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Credibility, Expectations, Inflation and prices, Inflation targets, Interest rates, Monetary policy, Monetary policy and uncertainty, Monetary policy implementation, Price stability, Recent economic and financial developments
• June 2, 2022

  Navigating high inflation

  Speech summary Paul Beaudry Gatineau Chamber of Commerce Gatineau, Quebec

  On June 1, the Bank of Canada decided to increase its policy interest rate by half a percentage point. Speaking the next day, Deputy Governor Paul Beaudry explains why inflation has been higher than expected and what we are doing to get it back to our 2% target.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Credibility, Expectations, Inflation and prices, Inflation targets, Interest rates, Monetary policy, Monetary policy and uncertainty, Monetary policy implementation, Price stability, Recent economic and financial developments
• May 3, 2022

  The Bank of Canada: A matter of trust

  Remarks Carolyn Rogers Women in Capital Markets Toronto, Ontario

  Senior Deputy Governor Carolyn Rogers discusses how the Bank of Canada’s independence and accountability help build public trust.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Coronavirus disease (COVID-19), Credibility, Inflation targets, Monetary policy and uncertainty, Monetary policy communications, Monetary policy framework, Recent economic and financial developments
• May 3, 2022

  Earning the trust of Canadians

  Speech summary Carolyn Rogers Women in Capital Markets Toronto, Ontario

  In her first speech with the Bank of Canada, Senior Deputy Governor Carolyn Rogers talks about how independence and accountability help the Bank build and maintain trust.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Coronavirus disease (COVID-19), Credibility, Inflation targets, Monetary policy and uncertainty, Monetary policy communications, Monetary policy framework, Recent economic and financial developments

• The Central Bank Strikes Back! Credibility of Monetary Policy under Fiscal Influence

  Staff Working Paper 2022-11 Antoine Camous, Dmitry Matveev

  Central banks in many advanced economies enjoy a high degree of independence, which protects monetary policy decisions from political influence. But how should independent central banks react if pressured by fiscal policy-makers? We examine whether a central bank should design a monetary policy framework that prescribes acting conditionally on how fiscal policy behaves.

  Content Type(s): Staff research, Staff working papers Topic(s): Credibility, Fiscal policy, Monetary policy JEL Code(s): E, E0, E02, E5, E52, E58, E6, E61, E62
• December 15, 2021

  Building on success

  Speech summary Tiff Macklem Empire Club of Canada Toronto, Ontario

  Governor Tiff Macklem speaks about the Bank of Canada’s monetary policy framework review and the agreement between the Government of Canada and the Bank to renew the 2 percent inflation target.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Central bank research, Coronavirus disease (COVID-19), Credibility, Expectations, Inflation and prices, Inflation targets, Labour markets, Monetary policy, Monetary policy and uncertainty, Monetary policy communications, Monetary policy framework, Monetary policy implementation, Recent economic and financial developments
• December 15, 2021

  Our monetary policy framework: Continuity, clarity and commitment

  Remarks (delivered virtually) Tiff Macklem Empire Club of Canada Toronto, Ontario

  Governor Tiff Macklem discusses the Bank of Canada’s renewed monetary policy framework. He reviews Canada’s experience with flexible inflation targeting and explains why the Bank and the Government of Canada agreed to renew the 2 percent inflation target.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Central bank research, Coronavirus disease (COVID-19), Credibility, Expectations, Inflation and prices, Inflation targets, Labour markets, Monetary policy, Monetary policy and uncertainty, Monetary policy communications, Monetary policy framework, Monetary policy implementation, Recent economic and financial developments

• Measuring and Evaluating Strategic Communications at the Bank of Canada

  Staff Discussion Paper 2021-9 Annie Portelance

  The Bank of Canada’s Communications Department has developed a framework to quantify and qualify the Bank’s communications efforts and their results. Using data-based measurement and evaluation, the department can assess the impact of the Bank’s communications activities and gauge the department’s contribution to the Bank’s overall goals.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Central bank research, Credibility, Monetary policy communications JEL Code(s): D, D8, D83
• August 27, 2020

  The imperative for public engagement

  Remarks (delivered virtually) Tiff Macklem Federal Reserve Bank of Kansas City Jackson Hole Symposium Jackson Hole, Wyoming

  Governor Tiff Macklem talks about the need for the Bank to be clear, relatable and understandable when it communicates with the public.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Coronavirus disease (COVID-19), Credibility, Monetary policy, Monetary policy and uncertainty