June 8, 2023
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June 8, 2023
Economic progress report: Are we entering a new era of higher interest rates?
Deputy Governor Paul Beaudry discusses the latest interest rate decision and suggests reasons why longer-term interest rates could remain higher than they were before the pandemic. -
June 8, 2023
Adjusting to higher interest rates
Speaking a day after we raised interest rates, Deputy Governor Paul Beaudry talks about what Governing Council considered in its decision. He also suggests reasons why long-term interest rates could remain higher than they were before the COVID-19 pandemic. -
June 8, 2023
The Canadian Press
Paul Beaudry, Deputy Governor of the Bank of Canada
Interview with The Canadian Press -
June 8, 2023
Speech by Paul Beaudry, Deputy Governor of the Bank of Canada
On Thursday, June 8, 2023, Paul Beaudry, Deputy Governor of the Bank of Canada will speak before the Greater Victoria Chamber of Commerce. -
June 7, 2023
Bank of Canada raises policy rate 25 basis points, continues quantitative tightening
The Bank of Canada today increased its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. -
June 7, 2023
Bank of Canada Interest Rate Announcement
On Wednesday, June 7, 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. -
Time Use and Macroeconomic Uncertainty
We estimate the effects of economic uncertainty on time use and discuss its macroeconomic implications. We develop a model to demonstrate that substitution between market and non-market work provides an additional insurance margin to households, weakening precautionary savings and labour supply and lowering aggregate demand, ultimately amplifying the contractionary effects of uncertainty. -
Crowdfunding and Risk
Crowdfunding may enable unique products to reach the consumer market. I model a crowdfunding technology that publicly screens consumer demand early in the production process. In this model, entrepreneurs like crowdfunding for risky projects where demand is uncertain, but not for large, safe projects or for projects where production costs are uncertain. -
An Investigation into the Effects of Border Carbon Adjustments on the Canadian Economy
We examine the economic implications of border carbon adjustments (BCAs) for Canada. We find that, BCAs, in the form of import tariffs, reduce Canada’s carbon leakage and improve its competitiveness when Canada is part of a broad coalition of BCA-implementing countries. Welfare also improves when tariff revenues are transferred to households.