Into the Unknown: Reflections on Risk, Uncertainty and Monetary Policy Decision-making

Radical uncertainty about the economic outlook is posing a new challenge for the Bank of Canada and other central banks, according to a new C.D. Howe Institute report.

In “Into the Unknown: Reflections on Risk, Uncertainty and Monetary Policy Decision-making”, author Paul Jenkins assesses the need for central banks to add to their toolkit with ‘bottom up’ agent-based models and to reposition their communications strategy through the use of narratives—both to help address what we mean by true uncertainty.