Neuenkirch, Matthias; Siklos, Pierre - In: Open Economies Review 25 (2014) 5, pp. 819-839
<Para ID="Par1">We examine the record of the CD Howe’s shadow Monetary Policy Council (SMPC) in Canada. We report a … Canada forward guidance, market determined forward rates diverge considerably from the recommendations implied by the SMPC …. Nevertheless, there is little evidence that the Bank of Canada and the SMPC coordinate their future views about the interest rate …