Credibility

• Communicating Inflation Uncertainty and Household Expectations

  Staff Working Paper 2023-63 Olena Kostyshyna, Luba Petersen

  We examine the value of direct communication to households about inflation and the uncertainty around inflation statistics. All types of information about inflation are effective at immediately managing inflation expectations, with information about outlooks being more effective and relevant than that about recent inflation and Bank targets.

  Content Type(s): Staff research, Staff working papers Topic(s): Central bank research, Credibility, Inflation and prices, Inflation targets, Monetary policy and uncertainty, Monetary policy communications JEL Code(s): C, C9, C93, D, D8, D84, E, E5, E59, E7
• September 7, 2023

  Staying the course

  Speech summary Tiff Macklem Calgary Chamber of Commerce Calgary, Alberta

  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.

  Content Type(s): Press, Speeches and appearances, Speech summaries 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
• 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