A senior Bank of Canada official says the central bank must be rigorous and transparent in order to maintain the public's trust.
In a speech in Sherbrooke, Que., explaining the bank's rate-setting process, Nicolas Vincent, the bank's external deputy governor and a professor at HEC Montreal, says communicating how it comes to its interest rate decisions is almost as important as the decision process itself.
He says when the bank cut its key interest rate in July, it said that downside risks to inflation were becoming increasingly important in the deliberations by the governing council, but the message was misunderstood.
Some interpreted it to mean that the bank believed downside risks had strengthened, but he says the bank intended to convey that with the two per cent target in sight, it gave increased consideration to the risk that inflation could fall below the mark.
Vincent says the differences in interpretation can be very subtle, which makes choosing the right words all the more important.
The Bank of Canada cut its key interest rate earlier this month for the third time this year to bring it to 4.25 per cent.
This report by The Canadian Press was first published Sept. 19, 2024.
Hurricane Milton is a Category 4 storm forecast to bring extreme flooding, high winds and heavy rain to the central west coast of Florida.
Hundreds of thousands of vehicles are being recalled in Canada due to a steering-related issue that could increase a driver's risk of crash.
One in eight women will be diagnosed with invasive breast cancer in their lifetimes, according to the American Cancer Society. Breast cancer is the second leading cause of cancer death for women in the United States, with 42,000 women dying every year from this cancer.
The federal government introduced a number of measures related to housing on Tuesday, which include measures for homeowners wanting to add a secondary suite, taxing vacant land and building homes in place of underused federal properties.
A group of people and a dog fleeing Hurricane Milton had to be rescued near St. Petersburg, Fla., on Tuesday after a private plane crashed into the sea.
An organization that ranks the best universities across the globe says its latest report shows a concerning trend that several of Canada’s institutions are slipping down its list.
Sin City blew a kiss goodbye to the Tropicana before first light Wednesday in an elaborate implosion that reduced to rubble the last true mob building on the Las Vegas Strip.
The space rock is slinging toward Earth from the outer reaches of the solar system and will make its closest pass on Saturday. It should be visible through the end of October, clear skies permitting.
COVID-19 could be a powerful risk factor for heart attacks and strokes for as long as three years after an infection, a large new study suggests.
Another beluga whale has died at Marineland and four years into a provincial probe, Ontario's solicitor general is saying little about the investigation's progress.
Erin Folk and her family are dealing with a nightmare of a situation, after their pet dogs were shot last week and left to suffer.
The John Howard Society of Saskatchewan (JHSS) appeared in the Supreme Court of Canada Tuesday challenging a regulation that it says lets provincial correctional workers discipline inmates without sufficient proof.
The leaders of B.C.'s main political parties sparred over health care, housing, and affordability Tuesday, pitching competing visions for how to address the most urgent issues facing the province in a debate punctuated by a few feisty exchanges.
More than two weeks have passed since Hassan Ali walked out of a Toronto courtroom a free man, after prosecutors decided not to move forward with a first-degree murder trial against the local rapper.
On September 11, Madeleine Gervais was the victim of a theft in Ottawa's west end. It happened in the Loblaws parking lot in College Square, when she was approached by a man and a woman who insisted to help her load her groceries into her car.
A steady rain fell in the Tampa Bay area Wednesday morning as a mighty Hurricane Milton churned toward a potentially catastrophic collision with the west coast of Florida, where some residents insisted they would stay even after millions were ordered to evacuate. Stragglers face grim odds of surviving, officials said.
Since Joe Biden ended his reelection bid, Kamala Harris swiftly secured the U.S. Democratic presidential nomination, brought in hundreds of millions of dollars in new campaign donations and surged past Biden’s poll numbers from earlier this year. And yet, Democrats are increasingly anxious over Harris' fate. Why?
A large-scale Israeli operation in northern Gaza has killed and wounded dozens of people and threatens to shut down three hospitals over a year into the war with Hamas, Palestinian officials and residents said Wednesday.
Control of the White House and the narrowly divided Senate and House may hang in the balance on Nov. 5, but don’t expect election night to be all nail-biters and barn burners. Chances are some winners will be declared before a single vote has been tallied, just as the polls close in those states.
Nearly a decade into the Trump Era of politics, less than a month from his third Election Day as the Republican candidate for president and there is still remarkably little consensus within the media about how best to cover Donald Trump.
Thousands of copies of Donald Trump’s 'God Bless the USA' Bible were printed in a country that the former president has repeatedly accused of stealing American jobs and engaging in unfair trade practices — China.
The minority Liberal government is not considering proroguing Parliament, Deputy Prime Minister Chrystia Freeland said Tuesday, despite persisting uncertainty over who is willing to keep propping them up and procedural wrangling over a Conservative led-privilege debate.
Nathalie Drouin, the prime minister's national security and intelligence adviser, is scheduled to appear today at a federal inquiry into foreign interference.
Former cabinet minister Marc Garneau, who describes himself in his new book as always-a-Liberal, 'but a decidedly blue one,' says he hopes the party still has room for someone like him.
COVID-19 could be a powerful risk factor for heart attacks and strokes for as long as three years after an infection, a large new study suggests.
The Ontario Ministry of Health says four people have been sickened after consuming beef tongue believed to be contaminated with listeria.
One in eight women will be diagnosed with invasive breast cancer in their lifetimes, according to the American Cancer Society. Breast cancer is the second leading cause of cancer death for women in the United States, with 42,000 women dying every year from this cancer.
The research that won Geoffrey Hinton a Nobel Prize for physics was the product of plenty of work carried out before artificial intelligence was the buzzword it is today.
The space rock is slinging toward Earth from the outer reaches of the solar system and will make its closest pass on Saturday. It should be visible through the end of October, clear skies permitting.
The Brazilian Supreme Court's Justice Alexandre de Moraes on Tuesday authorized the restoration of social media platform X´s service in Brazil, over a month after its nationwide shutdown, according to a statement posted on the court's website.
Jenna Fischer is highlighting Breast Cancer Awareness Month by sharing that she is now 'cancer free' after she was diagnosed with the disease in October 2023.
Andrew Garfield’s ability to so lovingly and poetically express his grief for his mother, Lynn, who died of pancreatic cancer in 2019, offers a gift of connection, and, perhaps, catharsis, to anyone experiencing loss.
Sum 41 lead singer Deryck Whibley alleges in his new memoir that he was pressured into a secret sexual relationship with his former manager, Treble Charger frontman Greig Nori.
A new report says condo inventory is on the rise in most major Canadian markets as more sellers are listing their properties in anticipation of growing demand from buyers.
Amazon has just launched a new service in Canada where delivery drivers can drop packages off directly in garages for those who want to protect their parcels from being swiped by porch pirates.
The U.S. Department of Justice is considering asking a federal judge to force Google to sell parts of its business in order to eliminate its online search monopoly.
An elevator mechanic mistakenly threw out a piece of artwork, made to look like empty beer cans, assuming it was litter, a Dutch museum revealed earlier this month.
Have you ever seen videos of hovercrafts online or on TV and thought, 'Wow, I wish I could ride one of those.' One Alberta man did, and then built his own.
A wildlife rescue in B.C. is caring for two orphaned bobcat kittens who have become as inseparable as 'real sisters' even though it's highly unlikely they are actually from the same litter.
Saskatchewan’s Jessica Campbell has made hockey history, becoming the first ever female assistant coach in the National Hockey League (NHL).
The NFL's Tampa Bay Buccaneers and NHL's Tampa Bay Lightning have left Florida ahead of Hurricane Milton to practice the rest of the week.
RJ Barrett will miss the rest of the Toronto Raptors' pre-season with an injury.
Hundreds of thousands of vehicles are being recalled in Canada due to a steering-related issue that could increase a driver's risk of crash.
Mercedes-Benz has partnered up with the Ontario Vehicle Innovation Network (OVIN) and the provincial government to launch a new “incubator program”. One of the first three locations is Windsor, with the other two going to Toronto and Kitchener-Waterloo.
New data from the Insurance Bureau of Canada (IBC) shows that even though claims for auto theft dropped in the first half of 2024 compared to their 2023 peak, the rates of reported theft remain well above those of years prior.
Have you ever seen videos of hovercrafts online or on TV and thought, 'Wow, I wish I could ride one of those.' One Alberta man did, and then built his own.
Saskatchewan’s Jessica Campbell has made hockey history, becoming the first ever female assistant coach in the National Hockey League (NHL).
A B.C. couple is getting desperate – and creative – in their search for their missing dog.
Videos of a meteor streaking across the skies of southern Ontario have surfaced and small bits of the outer space rock may have made it to land, one astronomy professor says.
A unique form of clouds made an appearance over the skies of Ottawa on Sunday evening.
Bernie Hicks, known as the ‘Batman of Amherst,’ always wanted to sit in a Batmobile until a kind stranger made it happen.
Bubi’s Awesome Eats, located on University Ave West took to social media to announce the closure on Friday.
Weeneebayko Area Health Authority and the Government of Ontario have awarded a $1.8 billion fixed-price contract to design, build and finance a new Far North hospital.
Manitobans are in cleanup mode after intense winds barreled through southern parts of the province this weekend.
The leaders of B.C.'s main political parties sparred over health care, housing, and affordability Tuesday, pitching competing visions for how to address the most urgent issues facing the province in a debate punctuated by a few feisty exchanges.
Some sparks flew during Tuesday night’s televised leaders’ debate between David Eby, John Rustad and Sonia Furstenau, as the trio had impassioned conversations about the issues that are on many British Columbians’ minds ahead of election night, including housing, health care, the cost of living and public safety.
The federal government introduced a number of measures related to housing on Tuesday, which include measures for homeowners wanting to add a secondary suite, taxing vacant land and building homes in place of underused federal properties.
Police say there are 'early indications' that a stolen vehicle was involved in a fiery crash in Toronto involving two TTC buses early Wednesday morning.
Amazon has just launched a new service in Canada where delivery drivers can drop packages off directly in garages for those who want to protect their parcels from being swiped by porch pirates.
Another beluga whale has died at Marineland and four years into a provincial probe, Ontario's solicitor general is saying little about the investigation's progress.
An Airdrie resident is facing several charges after police say they were caught in possession of several stolen vehicles.
Calgary police are searching for a suspect or suspects in a stabbing that occurred in the city's southeast on Tuesday evening.
After reaching peak intensity with wind speeds of 180 m.p.h. (285 km/h) on Monday night, Milton became the strongest storm on our planet for 2024.
St. Michael Catholic High School in Kemptville, Ont. is scheduled to open Wednesday after being closed for four consecutive days, as Ontario Provincial Police (OPP) investigated alleged anonymous threats.
The Ottawa Senators have signed goaltender Linus Ullmark to a new four-year contract extension ahead of the start of the NHL season.
As thousands of Canadians are on the hunt for deals during Amazon Prime Day this week, cybersecurity experts are sounding the alarm over an increase in fraudsters posing as the company online.
Quebec chicken chain St-Hubert is entering the 'value menu wars' by offering a series of cheaper options for lunch and freezing prices on its main courses.
The Société de transport de Montréal (STM) reopened two out of three Metro stations closed last week. Fabre and D'Iberville Metro stations were operational as of 10 a.m. Wednesday, while the Saint-Michel Station is still closed.
A cougar was spotted early Wednesday morning within the city of Lloydminster, police are warning the public.
Randy Boissonnault, MP for Edmonton Centre and the federal minister of employment, workforce development and official languages, has been named the ministerial lead of Jasper's rebuild.
Gusty wind Tuesday night ushered in a much cooler airmass that'll stick around for a few days.
Former CTV Atlantic employee Eric Bungay who now works for a CBS affiliate in Tampa Bay is bracing for Hurricane Milton's arrival.
International award-winning editorial cartoonist Michael de Adder has been cut from the Halifax Chronicle Herald.
Hurricane Milton is a Category 4 storm forecast to bring extreme flooding, high winds and heavy rain to the central west coast of Florida.
Concerns are being raised over a questionable PC campaign expense, after an invoice for a car rental was submitted by a company advertising sex and intimacy coaching.
There’s a new starting line-up at Canada Life Centre, which hockey fans and concertgoers will notice as soon as they walk in.
Manitoba RCMP and the Winnipeg Police Service are launching Manitoba's Most Wanted website.
A 17-year-old boy has been charged in connection with multiple incidents in late September that saw two Regina houses shot at during the overnight hours.
Erin Folk and her family are dealing with a nightmare of a situation, after their pet dogs were shot last week and left to suffer.
Hundreds of thousands of vehicles are being recalled in Canada due to a steering-related issue that could increase a driver's risk of crash.
Fire crews were called to respond to Mohawk Plaza shortly before 2 a.m. Tuesday.
The future of a hybrid shelter in Waterloo is up for discussion.
An app developed at the University of Guelph is aimed at making accessible doors more accessible.
Dozens of people gathered at Saskatoon city hall Tuesday to voice their concerns about the growing issue of homelessness in our city, and to offer their own solutions.
The province’s consumer watchdog is investigating a Saskatoon company selling luxury vacation condos in Mexico.
Erin Folk and her family are dealing with a nightmare of a situation, after their pet dogs were shot last week and left to suffer.
Hundreds of thousands of vehicles are being recalled in Canada due to a steering-related issue that could increase a driver's risk of crash.
Plans are on track for the proposed events centre in downtown Sudbury, city council heard the latest update on the major project Tuesday night.
Highway 144 is reopened north of Sudbury after a two-vehicle collision between a commercial and passenger vehicle happened around 1 p.m. Tuesday, police say.
St. Thomas police are on scene of a vehicle collision involving a pedestrian.
The Middlesex OPP have closed one westbound lane of Highway 401 due to a collision between two transport trucks.
Hurricane Milton is a Category 4 storm forecast to bring extreme flooding, high winds and heavy rain to the central west coast of Florida.
Police in Huntsville are investigating a deadly single-vehicle collision that happened Tuesday morning.
A person remains in serious condition in hospital after being shot during a gas station robbery.
A 20-year-old man who was behind the wheel of a speeding car that struck and killed an international student in Barrie last summer pleaded guilty to dangerous driving causing death on Tuesday but will not spend any time behind bars.
Hundreds of thousands of vehicles are being recalled in Canada due to a steering-related issue that could increase a driver's risk of crash.
Chatham and Wallaceburg fire departments were dispatched to Running Creek Road in Chatham-Kent on Tuesday afternoon after receiving reports of flames.
Several cars are being pulled out of the Detroit River in west Windsor.
The leaders of B.C.'s main political parties sparred over health care, housing, and affordability Tuesday, pitching competing visions for how to address the most urgent issues facing the province in a debate punctuated by a few feisty exchanges.
A Vancouver Island man has been charged in connection with a hit-and-run crash that killed a teenager near Duncan, B.C., earlier this year.
Some sparks flew during Tuesday night’s televised leaders’ debate between David Eby, John Rustad and Sonia Furstenau, as the trio had impassioned conversations about the issues that are on many British Columbians’ minds ahead of election night, including housing, health care, the cost of living and public safety.
A U.S. District Court judge in Montana has sentenced a 27-year-old man from Kelowna, B.C., to 18 months in prison for using fake names to buy guns with the aim of selling them in Canada.
Nearly two years after a man was stabbed to death in downtown Kelowna, RCMP have made an arrest in the case.
NDP Leader David Eby is promising to offer a $75-million loan forgiveness program to entice doctors, nurses and heath professionals to expand health-care services in rural British Columbia.
Charges have been laid against a 44-year-old man following a traffic stop in Brocket, Piikani Nation RCMP said Tuesday.
A metal fabrication company west of Medicine Hat has been fined by Alberta Occupational Health and Safety (OHS) following a workplace fatality in 2023.
A Lethbridge police officer involved in a scandal involving former Lethbridge New Democrat MLA Shannon Phillips has been reprimanded.
Jeff Warner from Aidie Creek Gardens in the northern Ontario community of Englehart has a passion for growing big pumpkins and his effort is paying off in more ways than one.
A woman in Greater Sudbury, Ont., said "It doesn't get more Canadian than this" when she spotted a black bear dumpster diving at a Tim Hortons last month.
The Federation of Northern Ontario Municipalities (FONOM) is the latest organization to call on the Doug Ford government to re-open dialogue with an airline service that transports lower-income Canadians to crucial medical care far from home.
A Conservative MP from Newfoundland and Labrador says some small towns in his rural riding are overrun with crime, but police say they haven't received reports to that effect.
As millions in federal funding flow into a Labrador group whose claims of Inuit identity have been rejected by Indigenous organizations across Canada, a national Inuit leader worries the Liberal government is putting the rights of Indigenous Peoples at risk.
He may not have logged the fastest time or even gone the full distance, but residents of a Newfoundland town agree the goat who unexpectedly joined the local weekend half marathon was the event's undisputed champion.
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