The neutral rate in Canada : 2018 estimates / Xin Scott Chen and José Dorich.: FB3-7/2018-22E-PDF
"The neutral nominal policy rate serves as a benchmark for assessing the degree of monetary stimulus and provides a medium- to long-run anchor for the policy rate. Since quantitative measures of the neutral rate are subject to considerable uncertainty, Bank staff rely on four different approaches to estimate the Canadian neutral rate. These approaches take explicit account of domestic and global factors, the relative importance of which varies with each approach. Informed by this analysis, Bank staff estimate that the Canadian neutral nominal policy rate lies between 2.5 and 3.5 per cent, the same range reported in the April 2017 Monetary Policy Report"--Abstract, p. ii.
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| Department/Agency | Bank of Canada. |
|---|---|
| Title | The neutral rate in Canada : 2018 estimates / Xin Scott Chen and José Dorich. |
| Series title | Staff analytical note = Note analytique du personnel, 2369-9639 ; 2018-22 |
| Publication type | Series - View Master Record |
| Language | [English] |
| Format | Electronic |
| Electronic document | |
| Note(s) | Cover title. Includes bibliographical references. Includes abstract in French. |
| Publishing information | [Ottawa] : Bank of Canada, c2018. |
| Author / Contributor | Chen, Xin Scott. Dorich, José. |
| Description | ii, 5 p. |
| Catalogue number |
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| Subject terms | Interest rates Monetary policy |
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