Staff research, Publications
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July 26, 2023
Summary of Governing Council deliberations: Fixed announcement date of July 12, 2023
This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on July 12, 2023. -
July 24, 2023
Market Participants Survey—Second Quarter of 2023
The Market Participants Survey results are based on questionnaire responses from about 30 financial market participants. -
Is Climate Transition Risk Priced into Corporate Credit Risk? Evidence from Credit Default Swaps
We study whether the credit derivatives of firms reflect the risk from climate transition. We find that climate transition risk has asymmetric and significant economic impacts on the credit risk of more vulnerable firms, and negligible effects on other firms. -
July 12, 2023
Monetary Policy Report – July 2023
Inflation in Canada and around the world has been coming down. The Bank projects that inflation will stay around 3% for the next year, returning to the 2% target by the middle of 2025. -
June 30, 2023
Exploring global value and supply chains
The things we buy come out of complex production chains that span the globe. Understanding these connections is crucial for today's economies. -
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June 30, 2023
Quarterly Research Update – 2023 Q2
This 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. -
Global Demand and Supply Sentiment: Evidence from Earnings Calls
This paper quantifies global demand, supply and uncertainty shocks and compares two major global recessions: the 2008–09 Great Recession and the COVID-19 pandemic. We use two alternate approaches to decompose economic shocks: text mining techniques on earnings calls transcripts and a structural Bayesian vector autoregression model. -
June 30, 2023
Business Outlook Survey—Second Quarter of 2023
Results from the Business Outlook Survey for the second quarter of 2023, along with those from the April, May and June 2023 Business Leaders’ Pulse surveys, suggest that capacity pressures remain elevated and expectations of significant price increases continue to be widespread. Firms anticipate that sales growth will begin to moderate from exceptionally high rates as signs of greater uncertainty emerge.