Monetary Policy and Uncertainty

Paul Jenkins and David Longworth

Bank of Canada Review, 2002, vol. 2002, issue Summer, 3-10

Abstract: Central banks must cope with considerable uncertainty about what will happen in the economy when formulating monetary policy. This article describes the different types of uncertainty that arise and looks at examples of uncertainty that the Bank has recently encountered. It then reviews the strategies employed by the Bank to deal with this problem. The other articles in this special issue focus on three of these major strategies.

Date: 2002
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