Council Reports

July 6, 2017 — In a tight vote, the C.D. Howe Institute’s Monetary Policy Council (MPC) called for the Bank of Canada to keep its target for the overnight rate, the very short-term interest rate it targets for monetary policy purposes, at 0.50 percent at its next announcement on July 12, 2017.  The MPC called for the Bank to hike to 0.75 percent at the following announcement in September, with further hikes to 1.00 by January 2018 and 1.25 by July 2018. The MPC provides an independent assessment of the monetary stance consistent with the Bank of Canada’s 2 percent inflation target. William Robson, the Institute’s President and CEO, chairs the Council. Council members make recommendations for the Bank of Canada’s...

May 18, 2017 — The C.D. Howe Institute’s Monetary Policy Council (MPC) said the Bank of Canada should keep its target for the overnight rate, the very short-term interest rate it targets for monetary policy purposes, at 0.50 percent at its next announcement on May 24, 2017.  Looking ahead, the Council said the Bank should hold the target at 0.50 percent over the next six months, and hike to 1.00 percent by May of 2018. The MPC provides an independent assessment of the monetary stance consistent with the Bank of Canada’s 2 percent inflation target. William Robson, the Institute’s President and CEO, chairs the Council. Council members make recommendations for the Bank of Canada’s upcoming interest-rate announcement...

April 6, 2017 — The C.D. Howe Institute’s Monetary Policy Council (MPC) today called for the Bank of Canada to keep its target for the overnight rate, the very short-term interest rate it targets for monetary policy purposes, at 0.50 percent at its next announcement on April 12, 2017.  Looking ahead, the Council said the Bank should raise the target to 0.75 percent over the next six months, and to 1.00 percent by April of 2018. The MPC provides an independent assessment of the monetary stance consistent with the Bank of Canada’s 2 percent inflation target. William Robson, the Institute’s President and CEO, chairs the Council. Council members make recommendations for the Bank of Canada’s upcoming interest-rate...