Staff research, Publications
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September 18, 2024
Summary of Governing Council deliberations: Fixed announcement date of September 4, 2024
This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on September 4, 2024. -
Ecosystem Models for a Central Bank Digital Currency: Analysis Framework and Potential Models
This note analyzes different economic models of a central bank digital currency (CBDC) ecosystem where the central bank chooses different levels of market involvement and usage of policy levers. The analysis suggests that there are trade-offs between the costs to the central bank and its ability to achieve policy goals like universal access. -
Household Food Inflation in Canada
We study food inflation rates for Canadian households during periods of low and high inflation from 2012Q4 to 2023Q4. Households experienced more varied inflation rates during the recent high inflation. Cumulative food inflation has been 2.2 percentage points higher for lower-income households than for highest-income households since the inflation surge. -
Let’s Get Physical: Impacts of Climate Change Physical Risks on Provincial Employment
We analyze 40 years’ worth of natural disasters using a local projection framework to assess their impact on provincial labour markets in Canada. We find that disasters decrease hours worked within a week and lower wage growth in the medium run. Our study highlights that disasters affect vulnerable workers through the income channel.