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Information and Analysis for Monetary Policy: Coming to a Decision

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Author Info
Tiff Macklem (Bank of Canada)
Abstract

This article outlines one of the Bank's key approaches to dealing with the uncertainty that surrounds decisions on monetary policy: the consideration of a wide range of information from a variety of sources. More specifically, it describes the information and analysis that the monetary policy decision-makers—the Governing Council of the Bank of Canada—receive in the two or three weeks leading up to a decision on the setting of the policy rate—the target overnight interest rate. The article also describes how the Governing Council reaches this decision.

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File URL: http://www.bankofcanada.ca/review/2002/macklem_e.pdf
File Format: application/pdf
File Function: full text
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Publisher Info
Article provided by Bank of Canada in its journal Bank of Canada Review.

Volume (Year): 2002 (2002)
Issue (Month): Summer ()
Pages: 11-18
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:bca:bcarev:v:2002:y:2002:i:summer:p:11-18

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Web page: http://www.bank-banque-canada.ca/

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  1. Katerina Smidkova, 2003. "Targeting inflation under uncertainty: Policy makers' perspective," Research and Policy Notes 2003/02, Czech National Bank, Research Department. [Downloadable!]
    Other versions:
  2. Tiff Macklem, 2005. "Commentary : central bank communication and policy effectiveness," Proceedings, Federal Reserve Bank of Kansas City, issue Aug, pages 475-494. [Downloadable!]
  3. Katerina Smidkova, 2003. "Methods Available to Monetary Policy Makers to Deal with Uncertainty," Macroeconomics 0310002, EconWPA. [Downloadable!]
  4. Nicholas Rowe & David Tulk, 2003. "A Simple Test of Simple Rules: Can They Improve How Monetary Policy is Implemented with Inflation Targets?," Working Papers 03-31, Bank of Canada. [Downloadable!]
  5. Monica Martin & Cristiano Papile, 2004. "The Bank of Canada's Business Outlook Survey: An Assessment," Working Papers 04-15, Bank of Canada. [Downloadable!]
  6. Yilmazkuday, Hakan, 2009. "Is there a Role for International Trade Costs in Explaining the Central Bank Behavior?," MPRA Paper 15951, University Library of Munich, Germany. [Downloadable!]
  7. Etienne Farvaque & Norimichi Matsueda & Pierre-Guillaume Méon, 2008. "How monetary policy committees impact the volatility of policy rates," Working Papers CEB 08-026.RS, Université Libre de Bruxelles, Solvay Brussels School of Economics and Management, Centre Emile Bernheim (CEB). [Downloadable!]
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This page was last updated on 2009-10-18.

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