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Does Outward Foreign Investment Matter for Canadian Productivity? Evidence from Greenfield Investments
This paper seeks to understand how outward foreign direct investment (FDI) affects the productivity of Canadian firms. We estimate the impact of outward greenfield investment on measures of firm-level productivity using FDI data from roughly 2,000 Canadian firms and more than 4,000 outward FDI projects over the 2003–14 period. -
July 13, 2018
Process for selecting a Deputy Governor of the Bank of Canada
Further to the announcement that Deputy Governor Sylvain Leduc will leave the Bank at the end of July, the process to appoint his successor has been initiated. -
The BoC-BoE Sovereign Default Database Revisited: What’s New in 2018?
Until recently, there have been few efforts to systematically measure and aggregate the nominal value of the different types of sovereign government debt in default. To help fill this gap, the Bank of Canada’s Credit Rating Assessment Group (CRAG) has developed a comprehensive database of sovereign defaults posted on the Bank of Canada’s website that now is updated in partnership with the Bank of England. -
July 11, 2018
Monetary Policy Report Press Conference Opening Statement
Governor Stephen S. Poloz discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR. -
July 11, 2018
Bank of Canada raises overnight rate target to 1 ½ per cent
The Bank of Canada today increased its target for the overnight rate to 1 ½ per cent. The Bank Rate is correspondingly 1 ¾ per cent and the deposit rate is 1 ¼ per cent. -
July 11, 2018
Monetary Policy Report – July 2018
Real GDP in Canada is expected to grow by 2.0 per cent in 2018, 2.2 per cent in 2019 and 1.9 per cent in 2020. -
A Look Inside the Box: Combining Aggregate and Marginal Distributions to Identify Joint Distributions
This paper proposes a method for estimating the joint distribution of two or more variables when only their marginal distributions and the distribution of their aggregates are observed. Nonparametric identification is achieved by modelling dependence using a latent common-factor structure. -
Bitcoin Awareness and Usage in Canada: An Update
The results of our 2017 Bitcoin Omnibus Survey (December 12 to 15, 2017) when compared with those from 2016 show that Bitcoin “awareness” increased from 64 to 85 per cent, while ownership increased from 2.9 to 5.0 per cent. Most Bitcoin purchasers are using the cryptocurrency as an investment and not as a means of payment for goods or services. -
The Neutral Rate in Canada: 2018 Estimates
The neutral nominal policy rate serves as a benchmark for assessing the degree of monetary stimulus and provides a medium- to long-run anchor for the policy rate. Since quantitative measures of the neutral rate are subject to considerable uncertainty, Bank staff rely on four different approaches to estimate the Canadian neutral rate.