Uncategorized

• Borrow Now, Pay Even Later: A Quantitative Analysis of Student Debt Payment Plans

  Staff Working Paper 2023-54 Michael Boutros, Nuno Clara, Francisco Gomes

  We investigate alternative student debt contracts that defer payments and ease the burden of student loans on US households by preserving disposable income early in borrowers’ lives. Our model shows substantial welfare gains from these contracts relative to existing plans and gains similar to the Biden administration's proposals but with a significantly lower cost.

  Content Type(s): Staff research, Staff working papers Topic(s): Asset pricing, Economic models, Financial markets, Labour markets, Market structure and pricing JEL Code(s): E, E2, G, G5, H, H3
• October 26, 2023

  Bank of Canada announces appointment of Nick Leswick as Executive Director of Policy

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced that Nick Leswick has been appointed to the new role of Executive Director of Policy, effective January 9, 2024.

  Content Type(s): Press, Press releases
• October 26, 2023

  Bank of Canada announces changes to Overnight Reverse Repo operations

  The Bank’s Overnight Reverse Repo (ORR) operations help reinforce the Bank’s target for the overnight rate in a floor system with large settlement balances.

  Content Type(s): Press, Market notices Source(s): Overnight reverse repo operations
• October 26, 2023

  The Current, CBC Radio

  

  Tiff Macklem, Governor of the Bank of Canada
  Interview with The Current on CBC Radio

  Content Type(s): Press, Media activities
• October 25, 2023

  Zone économie on Radio-Canada

  

  Nicolas Vincent, Deputy Governor of the Bank of Canada
  Interview with Zone économie on Radio-Canada

  Content Type(s): Press, Media activities
• October 25, 2023

  Bank of Canada Media Interview – Zone économie

  Nicolas Vincent, Deputy Governor of the Bank of Canada, will give an interview to Radio-Canada’s Gérald Fillion.

  Content Type(s): Press, Media advisories
• October 25, 2023

  Bank of Canada Media Interview – CBC Radio

  Tiff Macklem, Governor of the Bank of Canada, was interviewed on CBC’s radio show The Current. The program airs tomorrow morning and begins at 8:30 (Eastern Time).

  Content Type(s): Press, Media advisories
• October 25, 2023

  Monetary Policy Report Press Conference Opening Statement

  Opening statement Tiff Macklem Ottawa, Ontario

  Governor Tiff Macklem discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR.

  Content Type(s): Press, Speeches and appearances, Opening statements
• October 25, 2023

  Bank of Canada maintains policy rate, continues quantitative tightening

  Media Relations Ottawa, Ontario

  The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%.

  Content Type(s): Press, Press releases
• October 25, 2023

  Monetary Policy Report – October 2023

  

  Higher interest rates are working to ease price pressures in Canada and inflation is coming down, though progress to the 2% target is slow. The Bank projects that inflation will stay around 3½% until the middle of 2024, returning to target in 2025.

  Content Type(s): Publications, Monetary Policy Report