The C.D. Howe Institute Monetary Policy Council is comprised of 12 of Canada’s most distinguished financial-market and monetary economists. Chaired by the Institute’s Chief Executive Officer William Robson, it provides the Bank of Canada, financial-market participants and economic policy commentators with a regular independent assessment of the appropriate stance of Canadian monetary policy as the Bank of Canada pursues its 2 percent inflation target.

The Monetary Policy Council convenes to discuss the Bank of Canada’s policy toward the overnight rate, the very short-term interest rate the Bank targets for monetary policy purposes, shortly before each of the Bank’s interest-rate announcements.

The Bank of Canada’s interest-rate announcements occur roughly every six weeks. The Monetary Policy Council’s recommendations, including the individual votes of its members, appear on the C.D. Howe Institute’s website at 2:00 p.m. on the Thursday before each scheduled announcement. You can find the MPC and Bank of Canada schedules here.

Overnight Rate Target: C.D. Howe Institute MPC Recommendations and Bank of Canada Announcements

 

Co-Chairs

William B.P. Robson

William B.P. Robson

Chief Executive Officer

Members

Steve Ambler

Steve Ambler

Fellow-In-Residence
Edward A. Carmichael

Edward A. Carmichael

Founding Partner, Ted Carmichael Global Macro
Beata Caranci

Beata Caranci

Chief Economist and Vice President, TD Bank Group
Michael Devereux

Michael Devereux

Royal Bank Professor of International Economics, University of British Columbia
Stéfane Marion

Stéfane Marion

VP & Chief Economist, National Bank of Canada
Angelo Melino

Angelo Melino

Professor of Economics, University of Toronto
Jean-François Perrault

Jean-François Perrault

Senior Vice-President and Chief Economist, Scotiabank
Douglas Porter

Douglas Porter

Chief Economist, BMO Capital Markets
Avery Shenfield

Avery Shenfeld

Managing Director, Economics, Department, CIBC

Research Papers