Posts

• July 11, 2018

  Bank of Canada raises overnight rate target to 1 ½ per cent

  Media Relations Ottawa, Ontario

  The Bank of Canada today increased its target for the overnight rate to 1 ½ per cent. The Bank Rate is correspondingly 1 ¾ per cent and the deposit rate is 1 ¼ per cent.

  Content Type(s): Press, Press releases
• July 11, 2018

  Monetary Policy Report – July 2018

  

  Real GDP in Canada is expected to grow by 2.0 per cent in 2018, 2.2 per cent in 2019 and 1.9 per cent in 2020.

  Content Type(s): Publications, Monetary Policy Report

• A Look Inside the Box: Combining Aggregate and Marginal Distributions to Identify Joint Distributions

  Staff Working Paper 2018-29 Marie-Hélène Felt

  This paper proposes a method for estimating the joint distribution of two or more variables when only their marginal distributions and the distribution of their aggregates are observed. Nonparametric identification is achieved by modelling dependence using a latent common-factor structure.

  Content Type(s): Staff research, Staff working papers Topic(s): Bank notes, Digital currencies and fintech, Econometric and statistical methods JEL Code(s): C, C1, C14, D, D1, D14, E, E4, E41

• Bitcoin Awareness and Usage in Canada: An Update

  Staff Analytical Note 2018-23 Christopher Henry, Kim Huynh, Gradon Nicholls

  The results of our 2017 Bitcoin Omnibus Survey (December 12 to 15, 2017) when compared with those from 2016 show that Bitcoin “awareness” increased from 64 to 85 per cent, while ownership increased from 2.9 to 5.0 per cent. Most Bitcoin purchasers are using the cryptocurrency as an investment and not as a means of payment for goods or services.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Bank notes, Digital currencies and fintech, Econometric and statistical methods JEL Code(s): C, C1, C12, E, E4

• The Neutral Rate in Canada: 2018 Estimates

  Staff Analytical Note 2018-22 Xin Scott Chen, José Dorich

  The neutral nominal policy rate serves as a benchmark for assessing the degree of monetary stimulus and provides a medium- to long-run anchor for the policy rate. Since quantitative measures of the neutral rate are subject to considerable uncertainty, Bank staff rely on four different approaches to estimate the Canadian neutral rate.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Economic models, Interest rates, Monetary policy JEL Code(s): E, E4, E40, E43, E5, E50, E52, E58, F, F4, F41

• Redemption Runs in Canadian Corporate Bond Funds?

  Staff Analytical Note 2018-21 Rohan Arora

  Mutual funds employ a host of tools to manage redemption run risk. However, our results suggest that Canadian corporate bond funds may be vulnerable to redemption runs, especially when they are less liquid and when market volatility is high.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Financial institutions, Financial markets JEL Code(s): G, G0, G01, G2, G23
• June 30, 2018

  Research Update - June 2018

  This monthly newsletter features the latest research publications by Bank of Canada economists including external publications and working papers published on the Bank of Canada’s website.

  Content Type(s): Staff research, Research newsletters
• June 29, 2018

  Business Outlook Survey - Summer 2018

  Supported by expectations of sustained demand, responses to the summer Business Outlook Survey point to continued business optimism, particularly outside the energy-producing regions. In this context, firms reported increasing pressures on capacity and prices.

  Content Type(s): Publications, Business Outlook Survey
• June 29, 2018

  Senior Loan Officer Survey—Second Quarter of 2018

  Survey results for the second quarter of 2018 suggest that overall lending conditions eased somewhat, both for households and business, driven by competition for mortgage and corporate lending.

  Content Type(s): Publications, Senior Loan Officer Survey
• June 27, 2018

  Transparency strengthens public trust and makes monetary policy more effective, Governor Poloz says

  Media Relations Victoria, British Columbia

  Transparency in monetary policy can help build trust with the public and financial markets and promote a more resilient economy, Governor Stephen S. Poloz said in a speech today.

  Content Type(s): Press, Press releases