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.

Toward the Next Renewal of the Inflation-Control Agreement: Questions Facing the Bank of Canada
June 29, 2016 - Steve Ambler
The Bank of Canada should not squander its hard-won credibility by increasing its target rate of inflation, says a new report from the C.D. Howe Institute. In “Toward the Next Renewal of the...
Mounting Evidence: Findings from Natural Experiments in Inflation Targeting
March 31, 2016 - Michael Parkin
International evidence shows the wide economic benefits of inflation targeting, says a ground-breaking C.D. Howe Institute report. In “Mounting Evidence: Findings from Natural Experiments in...
Looking for Liquidity: Banking and Emergency Liquidity Facilities
February 9, 2016 - Jeremy Kronick
The Bank of Canada should start preparing for the next financial crisis, according to a new C.D. Howe Institute report. In “Looking for Liquidity: Banking and Emergency Liquidity Facilities,” author...
 One Percent? For Real? Insights from Modern Growth Theory about Future Investment Returns
October 7, 2015 - Craig Alexander and Steve Ambler
Pension fund savers face a future of lower investment returns, states a new report from the C.D. Howe Institute. In “One Percent? For Real? Insights from Modern Growth Theory about Future Investment...
Improving on the CPI: A Proposal for a Better Inflation Indicator
August 12, 2015 - Aaron Jacobs and Finn Poschmann
The Bank of Canada should track inflation using a measure that better accounts for changes in resale housing prices, according to a new C.D. Howe Institute report. In “Improving on the CPI: A...
Securing Monetary and Financial Stability: Why Canada Needs a Macroprudential Policy Framework
June 24, 2015 - David Longworth and Paul Jenkins
The Bank of Canada should focus monetary policy on inflation, not systemic risk, according to a new report released today by the C.D. Howe Institute. In “Securing Monetary and Financial Stability:...
Bank of Canada buys itself some breathing room on interest rates - Globe and Mail Op-Ed
Op-Ed
Markets were not surprised by today’s Bank of Canada announcement to hike its overnight target rate by 25 basis points to 1.5 per cent. They had factored in a very high probability of an increase....
Bank of Canada Should Raise Overnight Rate to 1.50% Next Week, Hike to 2.00 in a Year’s Time
Council Report
July 5, 2018
July 5, 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 1.50 percent at...
What the Bank of Canada is not signalling: Low inflation
Op-Ed
Bank of Canada Governor Stephen Poloz punted the “Will He or Won’t He” rate watch to July when the Bank of Canada left its target overnight rate unchanged on Wednesday. Markets had factored in only a...

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13 Nov 2017
Nov
13
  • The Elephant and the Mouse: Reflections on the Canada-US Relationship
Annual Benefactors' Lecture and Dinner
Toronto, 100 Front Street West
Monday, November 13, 2017, 5:30 pm to 8:30 pm
28 Nov 2016
Nov
28
  • Stephen S. Poloz, Governor of the Bank of Canada
Annual Benefactors' Lecture and Dinner - The Ascent of Services and the Rise of Canada’s New Economy
Toronto, 75 Lower Simcoe Street
Monday, November 28, 2016, 6:00 pm to 9:00 pm
03 Nov 2016
Nov
03
  • Inside Access: Monetary Policy in a Low Interest Rate Environment
Call with Steve Ambler, Professor of Economics, Université du Québec à Montréal
Conference Call
Thursday, November 3, 2016, 3:00 pm to 3:30 pm

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