Pandemic ‘supply shocks’ could indicate need for more agile monetary policy, says former BoC deputy

The current monetary policy framework agreement between the federal government and the Bank of Canada, which lays out the mandate of the central bank, is set to expire at the end of 2026.

Finance Minister Chrystia Freeland said she fully respects ‘the independence of the Bank of Canada as it delivers on its mandate to return inflation to target,' back in September 2023.The Hill Times photograph by Andrew Meade

News

BY JESSE CNOCKAERT

May 1, 2024

The Bank of Canada's monetary policy framework renewal should incorporate lessons from recent world events—including the COVID-19 pandemic—such as how to better forecast inflation in response to unprecedented “supply shocks,” according to a former deputy governor.

To keep reading, subscribe and become a political insider.

Only $7.76 a week for an annual subscription.

Enjoy unlimited website access and the digital newspaper.

Cancel anytime.

Already a Subscriber?

Get Today’s Headlines Newsletter

Your quick scan of the news you need each weekday to be the smartest person in the room.

By entering your email address you consent to receive email from The Hill Times containing news, analysis, updates and offers. You may unsubscribe at any time. See our privacy policy