Paul Jenkins: Communication - a vital tool in the implementation of monetary policy (Central Bank Articles and Speeches)

The members of these two organizations play an instrumental role in ensuring the efficient functioning of North America’s financial markets and, from a central bank perspective, the efficient transmission of monetary policy. You are, therefore, among the Bank of Canada’s key target audiences. We rely on the effective two-way flow of information between the Bank and financial markets in order to fulfill our mandate efficiently and serve the public interest responsibly. In aiming to do so, our overriding priority is to provide markets with the confidence that the value of money will be preserved through sound monetary policy. Put differently, financial markets embody the views of savers, investors, and borrowers, and the most basic consideration in the formulation of such views is confidence in the future value of money.