From: David Andolfatto and Fernando M. MartinTo: Interest rate watchersDate: August 19, 2025Re: Assessing the Bank of Canada’s Inflation Surge Fight A low and stable inflation rate environment promotes economic efficiency and fairness. And since the early 1990s the Bank of Canada’s monetary policy framework has included a 2-percent inflation target in a 1 to […]
After peaking at 8.1 percent in June 2022, headline inflation sits just below the Bank of Canada’s target at 1.9 percent. While goods inflation remains low, services inflation remains stubbornly high, contributing to the Bank’s recent decision to leave its policy rate unchanged at 2.75 percent. Services sectors tend to be more labour-intensive than goods […]
From: Duncan Munn and Jeff KehoeTo: Financial regulation watchersDate: August 13, 2025Re: Why Canada Must Confront the Politicization of US Financial Oversight The independence and integrity of US financial regulation are under unprecedented strain. In a wave of executive orders and administrative actions, Donald Trump has systematically reshaped the regulatory landscape – weakening oversight, politicizing […]
From: Jerzy Konieczny and Steve AmblerTo: Interest rate watchersDate: August 11, 2025Re: How Trump’s War on the Fed Can Hit Your Mortgage Donald Trump has a new target. It’s not China, Mexico or Prime Minister Mark Carney, but Jerome Powell, chair of the US Federal Reserve. If Mr. Trump gets his way, the fallout won’t stop with the […]
From: Jeremy M. Kronick and Steve AmblerTo: Interest rate watchersDate: August 8, 2025Re: An Understandable Hold But Cracks Suggest Cuts Coming Last week, the Bank of Canada held its policy rate steady at 2.75 percent. Although headline inflation has been at or below target for nine of the last 11 months, there are some signs of […]
Five years ago, many Canadians locked in mortgages when the Bank of Canada’s overnight rate was just 0.25 percent. Despite recent rate cuts, today’s five-year fixed mortgage rates remain about 25 percent higher than in 2020. As over a million mortgages come up for renewal in 2025–26, many households will face higher payments – raising concerns […]
Published in The Globe and Mail By Jeremy Kronick and Steve Ambler On Wednesday, the Bank of Canada held its policy rate steady at 2.75 per cent. Although headline inflation has been at or below target for 9 of the last 11 months, there are some signs of underlying upward pressure on inflation. Also, Canada’s economic performance has […]
Published in The Globe and Mail By Jerzy Konieczny and Steve Ambler U.S. President Donald Trump has a new target. It’s not China, Mexico or Prime Minister Mark Carney, but Jerome Powell, chair of the U.S. Federal Reserve. If Mr. Trump gets his way, the fallout won’t stop with the U.S. – it will hit Canada, too. The President has […]
July 24, 2025 – The C.D. Howe Institute’s Monetary Policy Council (MPC) calls for the Bank of Canada to leave its target for the overnight rate, its benchmark policy interest rate, unchanged at 2.75 percent at its next announcement on July 30th. The MPC further calls for the Bank to cut the target to 2.50 percent at […]
Should Canada adopt America’s monetary policy? The Institute’s Jeremy Kronick and Steve Ambler explain to our Michael Hainsworth that changing the way we guide the economy to be more like the U.S. would have disastrous results.Â
Should Canada adopt America’s monetary policy? The Institute’s Jeremy Kronick and Steve Ambler explain to our Michael Hainsworth that changing the way we guide the economy to be more like the U.S. would have disastrous results.Â
An Assessment of Canada’s 2021-22 Inflation Surge by David Andolfatto and Fernando M. Martin We argue that the fiscal policy responses to pandemic-induced disruptions in economic activity were primarily responsible for the 2021-22 inflation surge, and that there was little the Bank of Canada could have done to prevent it from happening. Our view is […]
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From: David Andolfatto and Fernando M. MartinTo: Interest rate watchersDate: August 19, 2025Re: Assessing the Bank of Canada’s Inflation Surge Fight A low and stable inflation rate environment promotes economic efficiency and fairness. And since the early 1990s the Bank of Canada’s monetary policy framework has included a 2-percent inflation target in a 1 to […] 
After peaking at 8.1 percent in June 2022, headline inflation sits just below the Bank of Canada’s target at 1.9 percent. While goods inflation remains low, services inflation remains stubbornly high, contributing to the Bank’s recent decision to leave its policy rate unchanged at 2.75 percent. Services sectors tend to be more labour-intensive than goods […] 
From: Duncan Munn and Jeff KehoeTo: Financial regulation watchersDate: August 13, 2025Re: Why Canada Must Confront the Politicization of US Financial Oversight The independence and integrity of US financial regulation are under unprecedented strain. In a wave of executive orders and administrative actions, Donald Trump has systematically reshaped the regulatory landscape – weakening oversight, politicizing […] 
From: Jerzy Konieczny and Steve AmblerTo: Interest rate watchersDate: August 11, 2025Re: How Trump’s War on the Fed Can Hit Your Mortgage Donald Trump has a new target. It’s not China, Mexico or Prime Minister Mark Carney, but Jerome Powell, chair of the US Federal Reserve. If Mr. Trump gets his way, the fallout won’t stop with the […] 
From: Jeremy M. Kronick and Steve AmblerTo: Interest rate watchersDate: August 8, 2025Re: An Understandable Hold But Cracks Suggest Cuts Coming Last week, the Bank of Canada held its policy rate steady at 2.75 percent. Although headline inflation has been at or below target for nine of the last 11 months, there are some signs of […] 
Five years ago, many Canadians locked in mortgages when the Bank of Canada’s overnight rate was just 0.25 percent. Despite recent rate cuts, today’s five-year fixed mortgage rates remain about 25 percent higher than in 2020. As over a million mortgages come up for renewal in 2025–26, many households will face higher payments – raising concerns […] 
Published in The Globe and Mail By Jeremy Kronick and Steve Ambler On Wednesday, the Bank of Canada held its policy rate steady at 2.75 per cent. Although headline inflation has been at or below target for 9 of the last 11 months, there are some signs of underlying upward pressure on inflation. Also, Canada’s economic performance has […] 
Published in The Globe and Mail By Jerzy Konieczny and Steve Ambler U.S. President Donald Trump has a new target. It’s not China, Mexico or Prime Minister Mark Carney, but Jerome Powell, chair of the U.S. Federal Reserve. If Mr. Trump gets his way, the fallout won’t stop with the U.S. – it will hit Canada, too. The President has […] 
July 24, 2025 – The C.D. Howe Institute’s Monetary Policy Council (MPC) calls for the Bank of Canada to leave its target for the overnight rate, its benchmark policy interest rate, unchanged at 2.75 percent at its next announcement on July 30th. The MPC further calls for the Bank to cut the target to 2.50 percent at […] 
Should Canada adopt America’s monetary policy? The Institute’s Jeremy Kronick and Steve Ambler explain to our Michael Hainsworth that changing the way we guide the economy to be more like the U.S. would have disastrous results. 
An Assessment of Canada’s 2021-22 Inflation Surge by David Andolfatto and Fernando M. Martin We argue that the fiscal policy responses to pandemic-induced disruptions in economic activity were primarily responsible for the 2021-22 inflation surge, and that there was little the Bank of Canada could have done to prevent it from happening. Our view is […]