A New Measure of Core Inflation

While the Bank of Canada's inflation-control target is specified in terms of the rate of increase in the total consumer price index, the Bank uses a measure of trend or "core" inflation as a short-term guide for its monetary policy actions. When the inflation targets were renewed in May 2001, the Bank announced that it was adopting a new measure of core inflation. This measure excludes the eight most volatile components of the CPI and adjusts the remaining components for the effect of changes in indirect taxes. In this article, the author discusses the definition of the new measure of core inflation and describes some of its advantages relative to the previous measure. He notes that the new measure has a firmer statistical basis, has a better correspondence with economic theory, and does a better job of predicting future changes in overall inflation. While the new measure has these advantages, the Bank will continue to monitor a broad range of indicators when assessing the likely future path for inflation.

Information and Analysis for Monetary Policy: Coming to a Decision

This article outlines one of the Bank's key approaches to dealing with the uncertainty that surrounds decisions on monetary policy: the consideration of a wide range of information from a variety of sources. More specifically, it describes the information and analysis that the monetary policy decision-makers—the Governing Council of the Bank of Canada—receive in the two or three weeks leading up to a decision on the setting of the policy rate—the target overnight interest rate. The article also describes how the Governing Council reaches this decision.

Commentary : central bank communication and policy effectiveness

Greenspan, Alan ; Monetary policy ; Banks and banking, Central

Transgender Inclusion in Higher Education: An Examination of Perceived Inclusion and Personal Wellbeing on Four College Campuses

Research finds that the success of transgender students is heavily reliant upon how welcome and safe they feel on their own campus. This paper aims to discuss transgender inclusion in higher education and the effects of inclusion/exclusion on transgender students. How does transgender inclusion in areas such as policy, administration, residency, and health care have an impact on the personal wellbeing of transgender students in higher education? Through a survey of 51 self-identified transgender individuals who have completed at least one semester of higher education in Nebraska, this paper describes transgender inclusion in higher education and the personal wellbeing of transgender students in higher education. Findings suggest that transgender students who do not perceive their institutions as transgender inclusive may also experience negative effects with regard to mental health, academics, and campus experience. Transgender students may face unique obstacles within higher education that must be addressed by education institutions in order to promote student success and a healthy wellbeing. Higher education within the United States is consistently faced with controversy. Gender identity and expression within schooling has been, and continues to be, a controversial topic within contemporary society. Transgender visibility is increasing with celebrities such as Caitlyn Jenner and Laverne Cox gracing the main stage and with ‘bathroom battlegrounds’ making headlines nationwide. However, despite rising visibility, transgender students and their educational needs often remain in the margins of mainstream discussion—resulting in unclear, underdeveloped, or non-existent policies2. The inclusion of transgender students in higher education within (but not limited to) areas such as policy, administration, residency, and health care may have an impact on the educational wellbeing of transgender students, including academic performance, extracurricular involvement, and mental health. Through a quantitative study of current and past transgender college students, I will describe the state of transgender inclusion in higher education and the personal wellbeing of transgender students

Price stability, inflation targets, and monetary policy: Conference summary

This article summarizes the proceedings of a conference hosted by the Bank of Canada in May 1997. The first conference held by the Bank on this subject was in 1993, two years after the introduction of inflation targeting in Canada. The 1997 conference revisited many of the analytic issues related to price stability that had been examined at the first conference, while also considering several additional questions. This time, with the extension of inflation-control targets beyond 1998 under consideration, particular emphasis was placed on the role and design of those targets. The conference also featured a round-table discussion among practitioners of monetary policy in three inflation-targeting countries -- New Zealand, Sweden, and the United Kingdom. Their remarks, which focussed on the experience with inflation targets, bring out very clearly the common challenges facing monetary policymakers in open economies.

Estimating Wildlife Harvest Based on Reported Consumption by Inuit in the Canadian Arctic

The harvest and consumption of wildlife are integral to the livelihood, culture, and nutritional status of the Inuit of northern Canada. When wildlife populations are perceived to be vulnerable, harvest restrictions may be enacted to protect species conservation interests. Such restrictions may also have consequences for the nutrition and food security of Inuit communities. This study aims to estimate the harvest numbers of key wildlife species needed to sustain the traditional diet of Inuit. Using responses to the food frequency questionnaire that were collected from 806 men and 1275 women during the Inuit Health Study of 2007 – 08, we characterized annual country food consumption in five Inuit regions of northern Canada. Data on average edible yield of food species and Inuit population demographics were compiled and used to estimate the total number of harvested animals. Caribou (Rangifer tarandus) was the species consumed with the highest prevalence (> 90%) and in greatest amounts (29.6 – 122.8 kg/person/yr), depending on sex and region. The annual consumption rate for beluga whale (Delphinapterus leucas) was 5.9 – 24.3 kg per person, depending on sex and region, and that for ringed seal (Pusa hispida) was 4.1 – 25.0 kg per person. To sustain this consumption rate, it is estimated that a mean total of 36 526 caribou, 898 beluga whales, and 17 465 ringed seals are required annually. These results provide a baseline for food security and resource management in the Canadian Arctic to balance Indigenous subsistence needs and wildlife conservation.La prise et la consommation de gibier font partie intégrante du mode de vie, de la culture et de l’alimentation des Inuits du Nord canadien. Lorsque certaines espèces sont perçues comme vulnérables, des restrictions peuvent être mises en vigueur quant à leur capture afin de favoriser leur protection et leur conservation. Par le fait même, ces restrictions peuvent avoir des conséquences sur l’alimentation et la sécurité alimentaire des collectivités inuites. Cette étude tente d’estimer les prises d’importantes espèces nécessaires au soutien du régime alimentaire traditionnel des Inuits. À l’aide des résultats découlant du sondage relatif à la fréquence de consommation des aliments réalisé auprès de 806 hommes et de 1 275 femmes dans le cadre de l’Étude sur la santé des Inuits en 2007 – 2008, nous avons caractérisé la consommation annuelle de nourriture de campagne dans cinq régions inuites du nord du Canada. Les données concernant le rendement comestible moyen des espèces alimentaires et les caractéristiques démographiques de la population inuite ont été compilées et utilisées pour estimer le nombre total d’animaux capturés. Le caribou (Rangifer tarandus) était l’espèce la plus souvent consommée (> 90 %) et en plus grandes quantités (de 29,6 à 122,8 kg/personne/année), en fonction du sexe de la personne et de la région. Le taux de consommation annuel du béluga (Delphinapterus leucas) était de 5,9 à 24,3 kg par personne, en fonction du sexe et de la région, tandis que celui du phoque annelé (Pusa hispida) était de 4,1 à 25,0 kg par personne. Pour soutenir ce taux de consommation, on estime qu’il faut annuellement un total moyen de 36 526 caribous, de 898 bélugas et de 17 465 phoques annelés. Ces résultats servent de point de référence à la gestion de la sécurité alimentaire et des ressources dans l’Arctique canadien afin d’équilibrer les besoins de subsistance indigènes et la conservation de la faune

Geologic map of the New Braunfels, Texas, 30 x 60 minute quadrangle : geologic framework of an urban-growth corridor along the Edwards Aquifer, south-central Texas

Process Steps: 1. Either: a) a Portable Document Format (PDF) version of the map provided the Bureau of Economic Geology, University of Texas at Austin was converted from pdf to Tagged Image File Format (TIFF) or b) a paper map was scanned and saved in TIFF at 200 dots per inch (dpi) and the original map size. The TIFF file was then opened in Adobe Photoshop, converted from RGB or other multiband mode to Indexed Color or Grayscale, rotated so that the top map neat line was horizontal, set to 200 dpi, and clipped to the neat lines, removing the map collar. A version with the map collar was retained. 2. Using tools within ArcGIS 10.2, both the collared and collarless Indexed Color TIF images were then either: a) georeferenced to Universal Transverse Mercator (UTM) zone 14, North American Datum 1927 (NAD27) coordinates using a digital 1:24,000 U.S. Geological Survey quadrangle index map from the Texas Natural Resources Information Services as the referencing layer or b) georeferenced to World Geodetic System 1984 (WGS84) geographic coordinates using the map corner coordinates for reference. Keyhole Markup Language (KML, KMZ) and GeoPDF map versions were created from these georeferenced maps by tools and export options in ArcGIS. Up to five different georeferenced versions of the original map and, when available, the map pamphlet, are available for download. The versions, as distinguished by Download File name, are: 1) Mapname.pdf: a GeoPDF of the collarless map referenced to UTM zone 14 coordinates relative to the NAD27 datum. The acronym "GAT" (Geologic Atlas of Texas) indicates the source and a map original available only at a small scale (1:250,000). 2) Mapname.kmz: a KML version of the collarless map for viewing in Google Earth. The spatial reference is geographic coordinates relative to the WGS84 datum. 3) Mapname_GCSWGS84_collarless.zip: zipped files that include a collarless map in TIFF format and ancillary ArcGIS v. 10.2 georeferencing files and metadata. The spatial reference is geographic coordinates relative to the WGS84 datum. 4) Mapname_UTM_collarless.zip: a zipped file that includes a collarless map in TIFF format and ancillary ArcGIS v. 10.2 georeferencing files and metadata. The spatial reference is UTM zone 14 coordinates relative to the NAD27 datum. 5) Mapname_with_collar.zip: the same as above but with the map collar still intact. 6) Mapname_pamphlet.pdf: a copy of the map pamphlet in PDF format. Any file name beginning with "GAT" indicates a map that was clipped from the Geologic Atlas of Texas (scale 1:250,000), the only published source for that area, and thus a much smaller-scale map than all other quadrangles. Further metadata for each map version are available in Federal Geographic Data Committee (FGDC)-compliant metadata file within the zip files, or in the document properties of the GeoPDF and KML files when opened in Adobe Acrobat or Google Earth.Includes geologic cross-section and stratigraphic column."For use by Barton Spring Edwards Aquifer Conservation District (BSEACD) Central Texas geologic mapping project"Portion of a scanned and georeferenced version of Collins, E.W., 2000, Geologic Map of the New Braunfels, Texas, 30x60 Minute Quadrangle: University of Texas at Austin, Bureau of Economic Geology, Miscellaneous Map MM-39, scale 1:100,000.UT Librarie

Monetary policy in the context of COVID-19

Speech announcing a shift in the direction of the GBPP and explicitly labeling it as quantitative easing (QE