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This video was posted in October 2021. It gave me an insight as to how the economy grew after the pandemic.

It states that the economy saw robust growth within different sectors such as Technology, Supply chain and Innovation. It highlights on how there is a high demand which is leading to a bottleneck in supply chain and delivering these services. Unemployment is still high and people are seeking jobs to bounce back from the economic depression. Higher costs in energy and transportation are leading to inflation and exorbitant prices on goods and services.

The reason I chose this video is because it's very concise and direct. It gives the viewer information in a summarised form yet get's the idea across effectively. This information is reliable because it is a direct resource of the Bank of Canada. It's posted on the official Youtube channel.

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October 2021 Monetary Policy Report – In Brief

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This video is a full livestream of the Monetary Policy report from the Bank of Canada. It gave me an idea of Canada's Economy, Inflation and current Monetary policy and decisions. For the Economy it gave me an insight into GDP growth, how the US economy directly influences the Canadian Economy. It also specifically covered topics on sectoral performance and how the manufacturing and energy sectors have grown in revenue.

The reason I find this information reliable and chose it because it is a direct resource of the Bank of Canada. It's posted on the official Youtube channel. I found it to give me direct information from bank officials itself, this made it a more reliable source of information.

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Release of the Monetary Policy Report / Publication du Rapport sur la politique monétaire

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Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers answer reporters’ questions following the policy rate decision and the release of the Monetar…

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This video gave me a good understanding of how Canada's monetary policies are made . This video was from 2017. it mentions that there was a dip in the economy and how Monetary policy had a cautious and data backed approach. This helped tackle current issues at the time eg: oil price drops. It explains how the bank of Canada plans to tackle inflation with Interest rates and how to do so without destabilising the economy.

The reason I chose this video is because it was form 2017. This helped me understand the economy before the pandemic and how monetary policies where placed. Again, this video was from the Bank of Canada Youtube page, hence it was a direct and reliable source.

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Uncertainty and Monetary Policy / Incertitude et politique monétaire

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In a speech to the Money Marketeers of New York University, Senior Deputy Governor Carolyn A. Wilkins discusses how uncertainty can affect monetary policy de…

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This website summary gave me an understanding of Canada’s current inflation trends, GDP growth, and key economic challenges faced. I got an idea on how inflation has fallen to around 2% for 2024 October with the main reason being by lower energy prices. The Canadian economy is showing varied growth. It has excess supply and labor market softness, but stronger energy exports.

On a global scale it highlighs the slowing of the U.S. economy, gradual improvements in Europe, and low demand in China, with volatile oil prices reflecting uncertainty in the near future.

I find this information reliable because it provides a clear and concise overview of current economic conditions and predictions. It was the best source for me to get an understanding on the current situation of the Canadian economy as of October 204.

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The Inflation-Control Target

At the heart of Canada's monetary policy framework is the inflation-control target, which is two per cent, the midpoint of a 1 to 3 per cent target range. First introduced in 1991, the target is set jointly by the Bank of Canada and the federal government and reviewed every five years. However, the day-to-day conduct of monetary policy is the responsibility of the Bank's Governing Council. The inflation-control target guides the Bank's decisions on the appropriate setting for the policy interest rate, which is aimed at maintaining a stable price environment over the medium term. The Bank announces its policy rate settings on fixed announcement dates eight times a year.

Target for the overnight rate

The target for the overnight rate, also known as the key policy interest rate, is the interest rate that the Bank expects to be used in financial markets for one-day (or "overnight") loans between financial institutions. This key rate serves as the benchmark that banks and other financial institutions use to set interest rates for consumer loans, mortgages and other forms of lending.

Influencing short-term interest rates

To achieve the inflation target, the Bank adjusts (raises or lowers) its key policy rate. If inflation is above target, the Bank may raise the policy rate. Doing so encourages financial institutions to increase interest rates on their loans and mortgages, discouraging borrowing and spending and thereby easing the upward pressure on prices. If inflation is below target, the Bank may lower the policy rate to encourage financial institutions to, in turn, lower interest rates on their loans and mortgages and stimulate economic activity. In other words, the Bank is equally concerned about inflation rising above or falling below the target. Such an approach guards against both high inflation and persistent deflation.

Monetary policy actions take time

Monetary policy actions take time - usually between six and eight quarters - to work their way through the economy and have their full effect on inflation. For this reason, monetary policy is always forward looking and the policy rate setting is based on the Bank's judgment of where inflation is likely to be in the future, not what it is today.

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At the heart of Canada's monetary policy framework is the inflation-control target, which is two per cent, the midpoint of a 1 to 3 per cent target range. First introduced in 1991, the target is set jointly by the Bank of Canada and the federal government and reviewed every five years.

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This article gave me an overview of Canada’s current economic conditions, inflation trends, and the Bank of Canada’s monetary policy approach.

It explains how the Bank aims to keep the economy stable by targeting a 2% inflation rate within a flexible range of 1% to 3%. Wage growth remains high compared to productivity, and there’s still excess supply in the economy. The forecast expects a gradual recovery, with growth averaging 2¼% over 2025-2026, driven by better consumer spending, business investment, and lower interest rates. Globally, the economy is predicted to grow by 3%, but performance will vary across regions. Issues like China’s slowdown from weak domestic demand and a property crisis, along with Middle East conflicts causing volatile oil prices, also play a role.

I found this article trustworthy and informative because it’s likely based on credible data from the Bank of Canada. It helped me connect how monetary policy, inflation, and economic growth work together, while also showing how global events impact Canada’s economy.

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Monetary policy has worked to reduce price pressures in the Canadian economy. Inflation is now around 2% and is expected to remain near the middle of the Bank of Canada’s control range of 1% to 3% over the projection.

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This article by Diane Amato of RBC gave me insight into the Bank of Canada’s recent Monetary Policy Report and what it means for Canadians.

It explains how the Bank cut the policy rate to 3.75% to address falling inflation, which dropped from 2.7% in June to 1.6% in September 2024. Inflation is expected to stay around 2%, but geopolitical risks could still affect prices drastically. Consumer spending has slowed but is expected to pick up in 2025 as interest rates and borrowing costs decrease. Employment challenges still exist, especially for youth and newcomers, leading to higher unemployment at 6.5%. It also points out slowing rent inflation and falling mortgage rates, but housing prices might go up because of pent-up demand and limited supply.

I found this article reliable because it’s clear, straightforward, and comes from a trusted financial institution. It does a great job of explaining how these economic changes could personally affect Canadians.

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Understanding the Bank of Canada’s Monetary Policy Report: What It Means for Everyday Canadians

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The Bank of Canada’s (BoC) latest Monetary Policy Report provides a comprehensive look at how its monetary policy is shaping critical aspects of the Canadian economy including inflation, employment, economic growth, and consumer spending. Here are some of the key highlights of the report and what they mean for Canadians:

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This press release from the bank of Canada provides updates on its monetary policy decisions and the state of the Canadian and global economy. It shows that the Bank maintained a policy rate of 5%. In Canada, the increase in interest rates are slowing down the demand in housing and durable goods. The Economic growth is predicted to remain weak in 2023 but improve by 2024, mainly driven by household spending, exports, and government contributions.

This gave me an insight to how the economy was in 2023 and how steady growth has brought us to a decent standpoint as of November 2024.

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Bank of Canada maintains policy rate, continues quantitative tightening

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The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%.

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This slide illustrates the decision-making process at the Bank of Canada. It provides a clear breakdown of the steps involved when decisions are made either with or without a Monetary Policy Report.

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This chart shows how the Bank of Canada’s interest rate target impacts inflation.

It depicts key factors such as exchange rates, aggregate demand, and output gaps, which influence inflation and economic stability.

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Economic models and making monetary policy

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Economic models and making monetary policy

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The video focuses on the evolution of economic models at the Bank of Canada and their role in monetary policy.

I understood key historical milestones, from early Keynesian models to advanced DSGE models.

These models integrate prices and rational expectations within the economy.

The governor talks about the trade off between theoretical models and forecasting accuracy. It talks about how we should use a mix of both theoretical and forecasting models to get the best results through good policies. This video was from 2017 and it it highlights on how we might use more data and AI driven information in the near future, which is clearly what we see in todays day and age in 2024.

The reason I chose this video is to understand how economic theory and models work and how it powers and drives good policy. It was again a video from the Main youtube channel hence I found it to be a credible source.

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Economic models and making monetary policy / Les modèles économiques et la politique monétaire