We estimate two new equations for Canadian non-commodity exports (NCX) that incorporate three important changes relative to the current equation used at the Bank of Canada.
The results of the winter Business Outlook Survey indicate that business prospects have improved following two years of overall modest activity. The responses reflect building domestic demand, a supportive export outlook and an expected recovery in energy-related activity.
Terms-of-trade shocks are known to be key drivers of business cycles in open economies. This paper argues that terms-of-trade shocks were also important for house price fluctuations in a panel of developed countries over the 1994–2015 period.
The Bank of Canada and the Department of Finance are announcing today a pilot for the Government of Canada Cash Management Bond Buyback program that will increase flexibility in the maximum repurchase amount at each operation.