Posts

• Demographic Origins of the Decline in Labor’s Share

  Staff Working Paper 2023-20 Andrew Glover, Jacob Short

  Declining labour market dynamism of workers results in an increasing wedge between their earnings and their marginal product as they age. This wedge and the demographic shift in the earnings shares of older workers can account for 59% of the decline in labor’s share of earnings in the United States.

  Content Type(s): Staff research, Staff working papers Topic(s): Labour markets, Productivity JEL Code(s): D, D3, D33, E, E2, E25, J, J1, J3, J6, J62
• April 13, 2023

  Fireside Chat with Tiff Macklem, Governor of the Bank of Canada

  On Thursday, April 13, 2023, Tiff Macklem, Governor of the Bank of Canada, will speak as part of the Governor Talks series at the IMF Spring Meetings.

  Content Type(s): Press, Media advisories
• April 12, 2023

  Monetary Policy Report Press Conference Opening Statement

  Opening statement Tiff Macklem Ottawa, Ontario

  Governor Tiff Macklem discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR.

  Content Type(s): Press, Speeches and appearances, Opening statements
• April 12, 2023

  Bank of Canada maintains policy rate, continues quantitative tightening

  Media Relations Ottawa, Ontario

  The Bank of Canada today held its target for the overnight rate at 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening.

  Content Type(s): Press, Press releases
• April 12, 2023

  Bank of Canada interest rate announcement and release of the Monetary Policy Report

  On Wednesday, April 12, 2023, the Bank of Canada will announce its decision on the target for the overnight rate. A press release will provide a brief explanation of the decision. The Bank will also publish its quarterly Monetary Policy Report (MPR) at the same time as the rate decision.

  Content Type(s): Press, Media advisories
• April 12, 2023

  Monetary Policy Report – April 2023

  

  Inflation in Canada remains high but should come down quickly to around 3% in the middle of this year because of lower energy prices, improved supply chains and restrictive monetary policy. The Bank projects that inflation will reach the 2% target by the end of 2024.

  Content Type(s): Publications, Monetary Policy Report
• April 4, 2023

  Deputy Governor Paul Beaudry to leave the Bank of Canada

  Media Relations Ottawa, Ontario

  The Bank of Canada announced today that Deputy Governor Paul Beaudry will leave the Bank at the end of July 2023. Mr. Beaudry will return to his academic position at the University of British Columbia.

  Content Type(s): Press, Press releases

• What we can learn by linking firms’ reported emissions with their financial data

  Staff Analytical Note 2023-4 Matthew Ackman, Timothy Grieder, Callie Symmers, Geneviève Vallée

  We analyze the financial statements and stock prices of publicly traded firms incorporated in Canada that report greenhouse gas emissions. We find that these firms primarily use equity financing. We also find that equity investors increasingly account for firms’ emissions when making investment decisions but the impact appears small. This suggests that assets exposed to climate change remain at risk of a sudden repricing.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Asset pricing, Climate change, Financial stability, Firm dynamics JEL Code(s): G, G1, G3, Q, Q5
• April 3, 2023

  The Bank of Canada releases the first quarter issues of the Business Outlook Survey and the Canadian Survey of Consumer Expectations

  On Monday, April 3, 2023, the Bank of Canada will release the first quarter issue of the Business Outlook Survey and the latest results of the Canadian Survey of Consumer Expectations.

  Content Type(s): Press, Media advisories
• April 3, 2023

  Business Outlook Survey—First Quarter of 2023

  Results from the first-quarter 2023 Business Outlook Survey and the Business Leaders’ Pulse surveys from January through March 2023 show a subdued sales outlook and plans for modest growth in capital expenditures. The labour market remains tight, but pressures have eased from high levels.

  Content Type(s): Publications, Business Outlook Survey