Communicating the future direction of policy / Jonathan Witmer [and] Monica Jain. : FB3-8/2026-16E-PDF

"The goal of this note is to consider possible ways to provide more information on policy reaction functions—how the policy interest rate may be changed in light of changing economic conditions—including through the publication of a policy path. In discussing various approaches, the note touches on the important issue of whose views are being presented: central bank staff, policy decision makers, or others. The note suggests that one approach to distinguish among different points of views is to differentiate between material presented to policymakers as inputs to their deliberations versus views of policymakers themselves. An important consideration is the governance structure and consensus-based decision-making process at the Bank of Canada (BoC)"--Introduction, page 1.

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