Canada’s Productivity Blueprint

The Bank of Canada's Monetary Policy Framework

Following the renewal of Canada’s monetary policy framework, the C.D. Howe Institute brings together leading monetary policy expertise and research to examine the framework, its significance, and its implications for Canadians.

Featured Research

Research

The Bank of Canada’s Communication Conundrum: How to Explain Inflation

Steve Ambler, Thorsten Koeppl, Jeremy Kronick
Our research explains why the Bank of Canada should rely less on multiple measures of core inflation in its public communications.
Research

Don’t Take It for Granted: Strengthening the Bank of Canada’s Independence

Steve Ambler, Thorsten Koeppl, Jeremy Kronick
Steve Ambler, Thorsten Koeppl, and Jeremy Kronick argue that central bank independence has become increasingly vulnerable, and that reinforcing it is essential for Canada’s economic stability.
Research

Flexible Inflation Targeting Beats a Dual Mandate: Lessons for Canada’s 2026 Framework Renewal

Steve Ambler, Thorsten Koeppl, Jeremy Kronick
This report makes the case for a renewed emphasis on “low and stable inflation” as the official framework for the Bank of Canada and flexible inflation targeting as the means for achieving this goal.

Podcast

Podcast

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