About the C.D. Howe Institute

The C.D. Howe Institute is an independent not-for-profit research institute whose mission is to raise living standards by fostering economically sound public policies. Widely considered to be Canada's most influential think tank, the Institute is a trusted source of essential policy intelligence, distinguished by research that is nonpartisan, evidence-based and subject to definitive expert review.

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Monetary Policy

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This research concerns central banking, its goals such as controlling inflation, the tools used to reach them such as policy  interest rates, related indicators such as the growth of money and credit; and the role central banks play in supervising and providing liquidity to financial markets. In addition to this research, the Institute's Monetary Policy Council provides a regular independent assessment of the appropriate stance of Canadian monetary policy as the Bank of Canada pursues its 2 percent inflation target.

Navigating Turbulence: Canadian Monetary Policy Since 2004
December 4, 2018 - Steve Ambler and Jeremy Kronick
The Bank of Canada should restore the important role of tracking the money supply as a predictor of future inflation and economic performance, according to a major new book on the conduct of monetary...
Faulty Transmissions: How Demographics Affect Monetary Policy in Canada
March 27, 2018 - Steve Ambler and Jeremy Kronick
Canada’s aging population has acted as a drag on the effectiveness of monetary policy since the financial crisis, according to a new report from the C.D. Howe Institute. In “Faulty Transmissions: How...
Understanding the Volatility of the Canadian Exchange Rate
February 8, 2018 - Martin Eichenbaum, Benjamin K. Johannsen and Sergio Rebelo
Contrary to popular belief, commodity prices are not the best predictor of the future exchange rate for the Canadian dollar, according to new research from the C.D. Howe Institute. In “Understanding...
Spendthrifts and Savers: Are Canadians Acting Like they are “House Poor” or “House Rich”?
June 6, 2017 - Jeremy Kronick
House rich, big-spending Canadians are taking a gamble on the risk of an economic shock in Canada, according to a new report from the C.D. Howe Institute. In Spendthrifts and Savers: Are Canadians...
Putting Money to Work: Monetary Policy in a Low Interest Rate Environment
November 3, 2016 - Steve Ambler
Expanding the money supply is the best option for the Bank of Canada in a low interest rate environment, states a new report from the C.D. Howe Institute. In “Putting Money to Work: Monetary Policy...
Ripple Effects: Oil Price Shocks and Monetary Policy
August 30, 2016 - Steve Ambler
August 30, 2016 – The effects of large oil price shocks on the Canadian economy are complex, as is the best response of monetary policy, but getting it wrong can be very costly, according to a new C....
Bank of Canada Should Hold Overnight Rate at 1.75 Percent through January, Hike to 2.25 in a Year’s Time
Council Report
November 29, 2018
November 29, 2018 — The C.D. Howe Institute’s Monetary Policy Council (MPC) called for the Bank of Canada to keep its target for the overnight rate, its benchmark policy interest rate, at 1.75...
Ambler, Kronick - How Fast Should the Bank Tighten?
Intelligence Memos
From: Steve Ambler and Jeremy Kronick To: The Bank of Canada Governing Council Date: October 26, 2018 Re:  How Fast Should the Bank Tighten? This week's Bank of Canada rate increase announcement was...
Bank of Canada Should Raise Overnight Rate to 1.75 Percent Next Week, Hike to 2.50 in a Year’s Time Says C.D. Howe Institute Monetary Policy Council
Council Report
October 18, 2018
October 18, 2018 — The C.D. Howe Institute’s Monetary Policy Council (MPC) called for the Bank of Canada to raise its target for the overnight rate, its benchmark policy interest rate, to 1.75...
Un pour cent? Vraiment? Ce que la théorie économique moderne laisse présager quant au rendement futur des investissements
Research
Les épargnants et les caisses de retraite doivent faire face à des rendements futurs inférieurs sur leurs investissements, affirme une nouvelle étude d’Institut C.D. Howe. Dans « Un pour cent?...
29 Nov 2018
Nov
29
  • Changing Markets Require Responsive Regulation
Annual Benefactors' Lecture and Dinner with Maureen Jensen, Chair and Chief Executive Officer of the Ontario Securities Commission (OSC)
Toronto, 75 Lower Simcoe Street
Thursday, November 29, 2018, 5:30 pm to 8:30 pm
18 Sep 2018
Sep
18
  • Cyber Security in Finance: Fear for the Future
Roundtable Luncheon with Raymond Boisvert, Kevvie Fowler, and Scott Jones
Toronto, 67 Yonge Street, Suite 300
Tuesday, September 18, 2018, 12:00 pm to 1:30 pm
27 Mar 2018
Mar
27
  • Inside Access: Faulty Transmissions: How Demographics Affect Monetary Policy in Canada
Conference Call with Steve Ambler, Professor of Economics, Université du Québec and Jeremy Kronick, Senior Policy Analyst, C.D. Howe Institute
Conference Call
Tuesday, March 27, 2018, 3:30 pm to 4:00 pm

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© 2018 C.D. Howe Institute. All Rights Reserved.

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© 2018 C.D. Howe Institute. All Rights Reserved.