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Welcome everyone, here we are going to analyze and to know more about Canada's Monetary Policy through different videos, websites and images.

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This website shows the details about monetary policy. Monetary policy concerns with  how much money circulates in the economy.

I chose this video, because we can get a lot of information about monetary policy, from this website.

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Monetary policy is concerned with how much money circulates in the economy, and what that money is worth.

What is the Bank's Approach to Monetary Policy?

The cornerstone of the Bank's monetary policy framework is its inflation-control system, the goal of which is to keep inflation near 2 per cent - the mid-point of a 1 to 3 per cent target range. This system provides a clear measure of the effectiveness of monetary policy, and increases the predictability of inflation.

The Bank is equally concerned with significant movements in the inflation rate, both above the 2 per cent mid-point and below it. When demand is strong, it can push the economy against the limits of its capacity to produce. This tends to raise inflation above the midpoint, so the Bank will raise interest rates to cool off the economy. When demand is weak, inflationary pressures are likely to ease. The Bank will then lower interest rates to stimulate the economy and absorb economic slack.

See The Output Gap for more information about the impact of demand and production on inflation.

How is Monetary Policy Carried Out?

The Bank carries out monetary policy by influencing short-term interest rates. It does this by raising and lowering the target for the overnight rate. (The "overnight rate" is the interest rate at which major financial institutions borrow and lend one-day (or overnight) funds among themselves.) In November 2000, the Bank introduced a system of eight "fixed" dates each year on which it announces whether or not it will change the target for the overnight rate.

Changes in the target for the overnight rate usually lead to changes in other interest rates, and so affect people's spending decisions. This, in turn, influences the level of demand for goods and services. When demand exceeds supply, prices will rise.

What are its Benefits?

Low, stable and predictable inflation is the best contribution that monetary policy can make to a productive, well-functioning economy. It allows Canadians to make spending and investment decisions with more confidence. This encourages longer-term investment in Canada's economy, and contributes to sustained job creation and greater productivity. This in turn leads to real improvements in our standard of living.

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Monetary policy is concerned with how much money circulates in the economy, and what that money is worth. The cornerstone of the Bank's monetary policy framework is its inflation-control system, the goal of which is to keep inflation near 2 per cent - the mid-point of a 1 to 3 per cent target range.

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In this website, we can see the objectives of monetary policy.  The objectives of monetary policy are management or inflation or unemployment and maintenance of currency exchange rates.

I chose this video, because it provides the details about the objectives of monetary policy.

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In this video we can see a brief monetary policy report by Bank of Canada. Here we can see the details about the monetary policy which includes the changes happened due to the pandemic. Bank of Canada says that , to support the recovery ,the bank will continue it's bond-buying program  to lower borrowing costs for Canadians. They will also keep interest rates low until inflation returns to their 2% target.

I chose this video, because it provides the details about monetary policy report by Bank of Canada .

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October Monetary Policy Report – In Brief

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If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on?

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If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on?

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If I have a chance to pass my knowledge to a family member or friend, I will tell them the importance about the monetary policy and the objectives of monetary policy.