October 27, 2021
Uncategorized
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October 27, 2021
Balance sheet operations for the reinvestment of proceeds of maturing Government of Canada bonds
As announced on October 27, 2021, the Bank of Canada is ending quantitative easing and moving into the reinvestment phase effective November 1, 2021. -
October 27, 2021
Bank of Canada maintains policy rate and forward guidance, ends quantitative easing
The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. -
October 27, 2021
Monetary Policy Report – October 2021
The Canadian economy is once again growing robustly, and the recovery from COVID-19 continues. The Bank is forecasting growth of around 5 percent in 2021, 4 ¼ percent in 2022 and 3 ¾ percent in 2023.
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October 18, 2021
Operational details for upcoming secondary market purchases of Government of Canada securities (October 25–November 5)
As previously announced, the Bank of Canada (the Bank) launched on April 1, 2020 a program to purchase Government of Canada securities in the secondary market – the Government Bond Purchase Program (GBPP). -
What Can Stockouts Tell Us About Inflation? Evidence from Online Micro Data
Did supply disruptions and cost pressures play a role in rising inflation in 2020 during the COVID-19 pandemic? Using data collected from websites of large retailers in multiple sectors and countries, we show that shortages may indicate transitory inflationary pressures. -
Fiscal and Monetary Stabilization Policy at the Zero Lower Bound: Consequences of Limited Foresight
How do outcomes of monetary and fiscal stabilization policies at the zero lower bound change when decision makers have finite planning horizons in the economy? We explore the effects of limited foresight on policy tools and the interaction between monetary and fiscal policy. -
October 18, 2021
Business Outlook Survey―Third Quarter of 2021
Firms anticipate stronger demand as pandemic conditions improve, according to results from the Business Outlook Survey in the third quarter of 2021. However, many businesses face supply constraints that will limit their sales and put upward pressure on their costs. Together, these demand pressures and supply challenges are driving widespread plans to invest, hire staff and increase prices. -
October 18, 2021
Canadian Survey of Consumer Expectations—Third Quarter of 2021
This survey took place in the third quarter of 2021, after most Canadians had been fully vaccinated against COVID-19 and as the Delta variant was beginning to spread more broadly in Canada. Results suggest that consumers plan to increase their spending significantly but remain cautious because of the Delta variant. Canadians think inflation will be higher in the near term due to supply disruptions, but they do not expect this situation to last. Although expectations for labour market conditions improved again, visible minorities, Indigenous people and people with disabilities are showing signs of vulnerabilities. Canadians are not expecting significant wage gains despite recent improvements in the labour market and perceptions of higher inflation.