CABE Webinar: Does the Bank of Canada respond to inflation or the state of the economy?
The Bank of Canada has adjusted its decisions on interest rates over time in response to inflation and economic conditions. We use vintage data and forecasts that were available to policymakers when making monetary policy decisions to estimate the Bank’s policy responses.
Since 1991, the Bank’s responses to inflation and economy have changed. At first, the Bank reacted mainly to near-term inflation forecasts. Over time, it responded more on the state of the economy and persistent future inflation forecasts.
There is also evidence that the Bank responded differently when inflation was above or below the target, and these differences evolved over time. These asymmetric responses contributed to the delay of interest rate hikes during the post-pandemic era.

Christos Shiamptanis is an associate professor at Wilfrid Laurier University and the Director of the master’s in business economics. He holds a PhD from the University at Albany, State University of New York. His research interests focus on fiscal sustainability, debt dynamics and monetary policy. His research has been published in the “European Economic Review”, “Journal of Money, Credit and Banking”, “Journal of Economic Dynamics and Control” and “Journal of International Money and Finance”. He is currently teaching Macroeconomics.

Ke Pang is an associate professor at Wilfrid Laurier University. She holds a PhD in Economics from the University of British Columbia. Her current research interests focus on monetary policy, fiscal sustainability, and implications of demographic changes and technological choices on economic growth. Her research has been published in the “Journal of International Money and Finance”, “Canadian Journal of Economics”,
“International Review of Economics and Finance”, “Open Economies Reviews”, and “Canadian Public Policy”.
Discounted Rates
Logged in Members receive a discounted rate. Please login or proceed without membership pricing to sign up for this event.
Login Continue without a MembershipEvent Details
Online (Microsoft Teams) Apr 23, 2025 12:00 pm - 1:00 pm ESTEvent Registration
Public Attendee List
- Randall Bartlett
- Brendan Kenny
- Diana Petramala
- Farzana Shaheen
- Nick Holloway
- Antonia Prlic
- Pushpa Kumari
- Fanny Siauw-Soegiarto
- Michael Davenport
- Oriane Kacoutie