From: Jeremy M. Kronick and Steve AmblerTo: Interest rate watchersDate: December 16, 2025Re: Conflicting Signals Abound and Explain Interest Rate Caution Last week, the Bank of Canada held its policy interest rate (the overnight rate target) at 2.25 percent, in a move widely anticipated by financial markets. And while the last year has often seen the […]
Ottawa’s forthcoming AI strategy needs to walk a tightrope between two equally important principles: safeguarding Canadians from possible misuses of AI but also giving our private and academic sectors the leeway to use Canada’s AI strengths to develop and commercialize new technologies and products.
December 4, 2025 – The C.D. Howe Institute’s Monetary Policy Council (MPC) calls for the Bank of Canada to keep its target for the overnight rate, its benchmark policy interest rate, at 2.25 percent at its next announcement on December 10, and maintain it at that level over the next year. The MPC, chaired at this meeting […]
In this E-Brief, we make the case for the importance of central bank operational independence from government. We make two proposals to further strengthen the already well-entrenched independence of the Bank of Canada. First, we argue for strengthening parliamentary oversight over the use of section 14 of the Bank of Canada Act, which allows the government […]
November 25, 2025 – As political pressure intensifies on the US Federal Reserve, a new C.D. Howe Institute report warns that Canada must not assume the Bank of Canada’s independence is secure. Ottawa, it says, should act now to safeguard the Bank from political influence and ensure it can continue delivering low and stable inflation. […]
From: Jeremy M. Kronick and Steve AmblerTo: Interest rate watchersDate: November 4, 2025Re: Uncertain Road Ahead for Bank of Canada Interest Rate Last week, as widely expected, the Bank of Canada cut its policy rate by a quarter-percentage-point to 2.25 percent. On the basis of economic data alone, this was a tough call. While the Bank’s Governor […]
From: Don DrummondTo: Fiscal observersDate: October 31, 2025Re: Is the Bank of Canada Too Optimistic? The Bank of Canada labels US tariffs a structural shock to the Canadian economy. There seems an effort to depict the economic projection in the October 2025 Monetary Policy Report as rather grim. It is noted, for example, that the […]
Published in The Globe and Mail. On Wednesday, in a move anticipated by financial markets, the Bank of Canada cut its policy rate by a quarter-percentage-point to 2.25 per cent. On the basis of economic data alone, this was a tough call. While the governor helped shape market expectations this time, we believe the future path of […]
October 23, 2025 – The C.D. Howe Institute’s Monetary Policy Council (MPC) calls for the Bank of Canada to cut its target for the overnight rate, its benchmark policy interest rate, to 2.25 percent at its next announcement on October 29th. The MPC then calls for the Bank to leave the target at 2.25 percent over the […]
From: Steve AmblerTo: Inflation WatchersDate: October 23, 2025Re: Peter Howitt’s Work Goes Well Beyond Economic Growth Theory Earlier this month, Canadian Peter Howitt – former Western University professor, former Fellow-in-Residence and current International Fellow at the C.D. Howe Institute – received the Nobel Prize in economics alongside Philippe Aghion and Joel Mokyr for their work […]
In the Bank of Canada’s Canadian Survey of Consumer Expectations, all age groups considered themselves financially worse off today than 12 months ago. With the exception of the seemingly always optimistic 18–24-year-olds, all age groups expect to be worse off in 12 months as well. These results indicate a poor state of financial well-being that will act as […]
From: Jeremy M. Kronick and Steve AmblerTo: Bank of Canada observersDate: September 22, 2025Re: More Rate Cuts to Come if Inflation Stays Subdued On Wednesday, the Bank of Canada cut its policy rate by 25 basis points to 2.5 percent in a move widely anticipated by financial markets. The cracks in the Canadian economy we outlined after […]
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From: Jeremy M. Kronick and Steve AmblerTo: Interest rate watchersDate: December 16, 2025Re: Conflicting Signals Abound and Explain Interest Rate Caution Last week, the Bank of Canada held its policy interest rate (the overnight rate target) at 2.25 percent, in a move widely anticipated by financial markets. And while the last year has often seen the […] 
Ottawa’s forthcoming AI strategy needs to walk a tightrope between two equally important principles: safeguarding Canadians from possible misuses of AI but also giving our private and academic sectors the leeway to use Canada’s AI strengths to develop and commercialize new technologies and products. 
December 4, 2025 – The C.D. Howe Institute’s Monetary Policy Council (MPC) calls for the Bank of Canada to keep its target for the overnight rate, its benchmark policy interest rate, at 2.25 percent at its next announcement on December 10, and maintain it at that level over the next year. The MPC, chaired at this meeting […] 
Published in The Globe and Mail. On Wednesday, in a move anticipated by financial markets, the Bank of Canada cut its policy rate by a quarter-percentage-point to 2.25 per cent. On the basis of economic data alone, this was a tough call. While the governor helped shape market expectations this time, we believe the future path of […] 
From: Steve AmblerTo: Inflation WatchersDate: October 23, 2025Re: Peter Howitt’s Work Goes Well Beyond Economic Growth Theory Earlier this month, Canadian Peter Howitt – former Western University professor, former Fellow-in-Residence and current International Fellow at the C.D. Howe Institute – received the Nobel Prize in economics alongside Philippe Aghion and Joel Mokyr for their work […] 
In the Bank of Canada’s Canadian Survey of Consumer Expectations, all age groups considered themselves financially worse off today than 12 months ago. With the exception of the seemingly always optimistic 18–24-year-olds, all age groups expect to be worse off in 12 months as well. These results indicate a poor state of financial well-being that will act as […] 
From: Jeremy M. Kronick and Steve AmblerTo: Bank of Canada observersDate: September 22, 2025Re: More Rate Cuts to Come if Inflation Stays Subdued On Wednesday, the Bank of Canada cut its policy rate by 25 basis points to 2.5 percent in a move widely anticipated by financial markets. The cracks in the Canadian economy we outlined after […]