C.D. Howe Institute Monetary Policy Council Calls for Bank of Canada to Cut Overnight Rate to 3.50 Percent Next Week, 3.00 by Summer, 2.75 Percent in a Year
December 5, 2024 – The C.D. Howe Institute’s Monetary Policy Council (MPC) calls for the Bank of Canada to lower its target for the overnight rate, its benchmark policy interest rate, to 3.50 percent at its next announcement on December 11th. The MPC further calls for the Bank to lower the target to 3.25 percent at the following announcement in January, to 3.00 percent by June of 2025, and to 2.75 percent by December of 2025.
The MPC provides an independent assessment of the monetary stance consistent with the Bank of Canada’s 2 percent inflation target. MPC co-chair Jeremy Kronick, the Institute’s Vice-President, Economic Analysis and Strategy, chaired this meeting. MPC members make recommendations for the Bank of Canada’s…
Council Recommends Keeping Stability Buffer at 3.5 Percent While Urging Major Banks to Stay Prepared
Council Recommends Keeping Stability Buffer at 3.5 Percent While Urging Major Banks to Stay Prepared
Third Meeting of the C.D. Howe Institute Domestic Stability Buffer Council
At its meeting on November 26th, the C.D. Howe Institute’s Domestic Stability Buffer Council (DSBC) recommended that the Office of the Superintendent of Financial Institutions (OSFI) maintain the Domestic Stability Buffer (DSB) for the domestic systemically important banks (D-SIBs)1 at 3.5 percent at its next setting in December. The DSBC also emphasized the importance of D-SIBs preserving their strong capital positions.
The DSBC provides OSFI, industry participants, and key economic policy voices with an independent assessment of the appropriate size of the buffer in pursuit of OSFI’s mandate of contributing to public confidence in Canada’s…
C.D. Howe Institute Advisory Group on Immigration Targets
The C.D. Howe Institute has convened an Advisory Group on Immigration Targets to provide recommendations on immigration policy and immigration-level targets. On October 21, 2024, the group held its first meeting to discuss the future direction of Canada’s immigration targets, with a focus on balancing demographic shifts and the country’s absorptive capacity.
Following the government’s recent announcement on reducing immigration targets, the group’s discussions remain pertinent, as members raised concerns about the rapid increase in temporary residents, declining public confidence, housing shortages, and rising unemployment rates, underscoring the need to recalibrate Canada’s immigration approach. These…
C.D. Howe Institute Monetary Policy Council Calls for Bank of Canada to Cut Overnight Rate to 3.75 Percent Next Week, 3.00 by Spring, 2.50 Percent in a Year
October 17, 2024 – The C.D. Howe Institute’s Monetary Policy Council (MPC) calls for the Bank of Canada to lower its target for the overnight rate, its benchmark policy interest rate, to 3.75 percent at its next announcement on October 23rd. The MPC further calls for the Bank to lower the target to 3.50 percent at the following announcement in December, to 3.00 percent by April of 2025, and to 2.50 percent by October of 2025.
The MPC provides an independent assessment of the monetary stance consistent with the Bank of Canada’s 2 percent inflation target. MPC co-chair William Robson, the Institute’s President and CEO, chaired this meeting. MPC members make recommendations for the Bank of Canada’s target for the overnight rate…
C.D. Howe Institute Monetary Policy Council Calls for Bank of Canada to Cut Overnight Rate to 4.25 Percent Next Week and to 3.00 Percent in a Year
August 29, 2024 – The C.D. Howe Institute’s Monetary Policy Council (MPC) calls for the Bank of Canada to lower its target for the overnight rate, its benchmark policy interest rate, to 4.25 percent at its next announcement on September 4th. The MPC further calls for the Bank to lower the target to 4.00 percent at the following announcement in October and to 3.00 percent by September of 2025.
The MPC provides an independent assessment of the monetary stance consistent with the Bank of Canada’s 2 percent inflation target. MPC co-chair, William Robson, the Institute’…
