Council Reports

Jul 07

C.D. Howe Institute Monetary Policy Council Calls for Bank of Canada to Raise Overnight Rate to 2.25 Percent Next Week and 3.25 Percent by 2023

July 7, 2022 – The C.D. Howe Institute’s Monetary Policy Council (MPC) recommends that the Bank of Canada raise its target for the overnight rate, its benchmark policy interest rate, by 75 basis points to 2.25 percent on July 13th. The MPC recommends further increases over the coming year: to 2.75 percent in September and 3.25 percent by January 2023. Its call for the overnight rate in a year’s time was also 3.25 percent. The MPC also recommends that the Bank maintain the current pace of reduction in its holdings of Government of Canada bonds between now and September.

The MPC provides an independent assessment of the monetary stance consistent with the Bank of Canada’s 2 percent inflation target. William Robson,…

May 26

C.D. Howe Institute Monetary Policy Council Calls for Bank of Canada to Raise Overnight Rate to 1.50 Percent Next Week and 2.00 Percent in July, and Sell Bonds

May 26, 2022 – The C.D. Howe Institute’s Monetary Policy Council (MPC) recommends that the Bank of Canada raise its target for the overnight rate, its benchmark policy interest rate, by 50 basis points to 1.50 percent on June 1st. The MPC recommends further increases over the coming year: to 2.00 percent in July, and 2.50 by December. It also recommends that the Bank accelerate its planned reduction in its holdings of Government of Canada bonds.

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 CEO, chairs the Council.

Council members make recommendations for the Bank of Canada’s upcoming interest…

Apr 07

C.D. Howe Institute Monetary Policy Council Calls for Bank of Canada to Raise Overnight Rate to 1.00 Percent Next Week and 2.25 Percent in a Year’s Time, and Shrink Bond Holdings

April 7, 2022 – The C.D. Howe Institute’s Monetary Policy Council (MPC) recommends that the Bank of Canada raise its target for the overnight rate, its benchmark policy interest rate, by 50 basis points to 1.00 percent on April 13th. The MPC recommends further increases over the coming year: to at least 1.25 percent in June, 2.00 by October, and 2.25 percent by April 2023. It also recommends that the Bank reduce its holdings of Government of Canada bonds between now and its May overnight-rate target announcement.

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 CEO, chairs the Council.

Council…