For the most part, they share their information, analysis, experience and judgment with members of the Governing Council. The Bank of Canada makes every effort to minimize the inherent uncertainty and risk associated with policy-making by drawing on whatever useful information and insights are available both inside and outside the Bank.
The latter includes data series from agencies such as Statistics Canada, current analysis and forecasts from other central banks, governments, international financial institutions and private sector economists, as well as research from academics. All of this is in addition to the contributions of our own staff.