October 25, 2023
Posts
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October 25, 2023
Monetary Policy Report – October 2023
Higher interest rates are working to ease price pressures in Canada and inflation is coming down, though progress to the 2% target is slow. The Bank projects that inflation will stay around 3½% until the middle of 2024, returning to target in 2025. -
October 25, 2023
Bank of Canada interest rate announcement and release of the Monetary Policy Report
On Wednesday, October 25, 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. -
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Identifying Nascent High-Growth Firms Using Machine Learning
Firms that grow rapidly have the potential to usher in new innovations, products or processes (Kogan et al. 2017), become superstar firms (Haltiwanger et al. 2013) and impact the aggregate labour share (Autor et al. 2020; De Loecker et al. 2020). We explore the use of supervised machine learning techniques to identify a population of nascent high-growth firms using Canadian administrative firm-level data. -
October 16, 2023
CFIF recommends path for winding down BA market
Bankers’ Acceptances (BAs) will no longer be issued by the major Canadian banks after the cessation of the Canadian Dollar Offered Rate’s (CDOR) publication in June 2024. -
Decentralized finance: Innovations and challenges
Decentralized finance surged in popularity around 2020. We explore its value and limitations and highlight some potential regulatory concerns. -
October 16, 2023
The Bank of Canada releases the third quarter issues of the Business Outlook Survey and the Canadian Survey of Consumer Expectations
On Monday, October 16, 2023, the Bank of Canada will release the third quarter issue of the Business Outlook Survey and the Canadian Survey of Consumer Expectations. -
October 16, 2023
Business Outlook Survey—Third Quarter of 2023
Results from the Business Outlook Survey for the third quarter of 2023, along with those from the July, August and September 2023 Business Leaders’ Pulse surveys suggest that on balance, firms are still planning to make larger and more frequent price increases than they did before the COVID-19 pandemic. Further, businesses' outlook for demand has continued to weaken as higher interest rates impact the economy. -
October 16, 2023
Canadian Survey of Consumer Expectations—Third Quarter of 2023
Consumers’ perceptions of current inflation remain elevated and are diverging from actual inflation. Perceptions of high inflation are also leading to persistently high expectations for inflation over the next 12 months. Consumers’ expectations for interest rates one year from now also remain high, and many consumers believe that the impacts of higher interest rates on their household spending are far from over. Homeowners with a variable-rate mortgage are more likely than other consumers to report being worse off due to high interest rates. Consumers’ plans to purchase services, such as vacations or concerts, are more widespread than plans to make major purchases of goods that are likely to be financed with loans, such as vehicles or appliances. Workers are reporting signs of job market cooling, such as more time spent looking for a new job, but they remain confident about the labour market.