The C.D. Howe Institute Monetary Policy Council is comprised of 12 of Canada’s most distinguished financial-market and monetary economists. Chaired by the Institute’s Chief Executive Officer William Robson, it provides the Bank of Canada, financial-market participants and economic policy commentators with a regular independent assessment of the appropriate stance of Canadian monetary policy as the Bank of Canada pursues its 2 percent inflation target.
The Monetary Policy Council convenes to discuss the Bank of Canada’s policy toward the overnight rate, the very short-term interest rate the Bank targets for monetary policy purposes, shortly before each of the Bank’s interest-rate announcements.
The Bank of Canada’s interest-rate announcements occur roughly every six weeks. The Monetary Policy Council’s recommendations, including the individual votes of its members, appear on the C.D. Howe Institute’s website at 2:00 p.m. on the Thursday before each scheduled announcement. You can find the MPC and Bank of Canada schedules here.
Chair
![](/sites/default/files/styles/staff_280x280/public/2024-02/Bill%20Robson_2024.png.jpg?itok=O-9N2V_K)
William B.P. Robson
Chief Executive OfficerMembers
![Steve Ambler](/sites/default/files/styles/staff_280x280/public/2023-08/Steve_Ambler.png.jpg?itok=AnkTi5H7)
Steve Ambler
Fellow-In-Residence![Edward A. Carmichael](/sites/default/files/styles/staff_280x280/public/2023-08/Edward%20A.%20Carmichae.png.jpg?itok=FvG8x1mU)
Edward A. Carmichael
Founding Partner, Ted Carmichael Global Macro![Beata Caranci](/sites/default/files/styles/staff_280x280/public/2023-09/beata-caranci_2023.png.jpg?itok=igkQelvt)
Beata Caranci
Senior VP & Chief Economist, TD Bank Group![Michael Devereux](/sites/default/files/styles/staff_280x280/public/2023-09/michael-devereux_2023.png.jpg?itok=kQngBiwT)
Michael Devereux
Royal Bank Professor of International Economics, University of British Columbia![Stéfane Marion](/sites/default/files/styles/staff_280x280/public/2023-08/St%C3%A9fane_Marion.png.jpg?itok=fmLfRugT)
Stéfane Marion
VP & Chief Economist, National Bank of Canada![Angelo Melino](/sites/default/files/styles/staff_280x280/public/2023-08/Angelo_Melino.png.jpg?itok=Gucjaddz)
Angelo Melino
Professor of Economics, University of Toronto![Jean-François Perrault](/sites/default/files/styles/staff_280x280/public/2023-09/perrault_2023.png.jpg?itok=gs-R9Bw4)
Jean-François Perrault
Senior Vice-President and Chief Economist, Scotiabank![](/sites/default/files/styles/staff_280x280/public/2023-10/Luba%20Petersen.png.jpg?itok=GOCKeVBC)
Luba Petersen
Research Fellow![Douglas Porter](/sites/default/files/styles/staff_280x280/public/2023-09/porter_2023.png.jpg?itok=wJWOOF2a)
Douglas Porter
Chief Economist, BMO Capital Markets![Avery Shenfeld](/sites/default/files/styles/staff_280x280/public/2023-09/avery-shenfeld_2023.png.jpg?itok=4L77B0xX)