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July 18, 2019

Radical uncertainty about the economic outlook is posing a new challenge for the Bank of Canada and other central banks, according to a new C.D. Howe Institute report.

In “Into the Unknown: Reflections on Risk, Uncertainty and Monetary Policy Decision-making”, author Paul Jenkins assesses the need for central banks to add to their toolkit with ‘bottom up’ agent-based models and to reposition their communications strategy through the use of narratives—both to help address what we mean by true uncertainty.

Paul Jenkins

Paul received his M.Sc. in economics from the London School of Economics and Political Science in England and his B.A. in economics from the University of Western Ontario in London, Canada. From 2003 to 2010, Paul served as senior deputy governor of the Bank of Canada. He was the Bank’s chief operating officer and a member of its board of directors.