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September 4, 2024
Interest Rate Announcement
09:45 (ET)
On eight scheduled dates each year, the Bank of Canada announces the setting for the overnight rate target in a press release explaining the factors behind the decision. -
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August 19, 2024
Release: Senior Loan Officer Survey
10:30 (ET)
The Senior Loan Officer Survey collects information on the business-lending practices of Canadian financial institutions. -
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August 2, 2024
Release: Market Participants Survey
10:30 (ET)
The Market Participants Survey is conducted quarterly. Bank of Canada staff reach out to a diverse set of participants in financial markets to gather their views on key macroeconomic and financial variables as well as on monetary policy. -
Housing Affordability and Parental Income Support
In many countries, the cost of housing has greatly outpaced income growth, leading to a housing affordability crisis. Leveraging Canadian loan-level data and quasi-experimental variation in payment-to-income constraints, we document an increasing reliance of first-time homebuyers on financial help from their parents, through mortgage co-signing. We show that parental support can effectively relax borrowing constraints—potentially to riskier borrowers. -
Central Bank Digital Currency and Transmission of Monetary Policy
How does the transmission of monetary policy change when a central bank digital currency (CBDC) is introduced in the economy? Does CBDC design matter? We study these questions in a general equilibrium model with nominal rigidities, liquidity frictions, and a banking sector where commercial banks face a leverage constraint.