April 12, 2023
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April 12, 2023
Bank of Canada maintains policy rate, continues quantitative tightening
The Bank of Canada today held its target for the overnight rate at 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening. -
April 12, 2023
Bank of Canada interest rate announcement and release of the Monetary Policy Report
On Wednesday, April 12, 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. The Bank will also publish its quarterly Monetary Policy Report (MPR) at the same time as the rate decision. -
April 12, 2023
Monetary Policy Report – April 2023
Inflation in Canada remains high but should come down quickly to around 3% in the middle of this year because of lower energy prices, improved supply chains and restrictive monetary policy. The Bank projects that inflation will reach the 2% target by the end of 2024. -
April 4, 2023
Deputy Governor Paul Beaudry to leave the Bank of Canada
The Bank of Canada announced today that Deputy Governor Paul Beaudry will leave the Bank at the end of July 2023. Mr. Beaudry will return to his academic position at the University of British Columbia. -
What we can learn by linking firms’ reported emissions with their financial data
We analyze the financial statements and stock prices of publicly traded firms incorporated in Canada that report greenhouse gas emissions. We find that these firms primarily use equity financing. We also find that equity investors increasingly account for firms’ emissions when making investment decisions but the impact appears small. This suggests that assets exposed to climate change remain at risk of a sudden repricing. -
April 3, 2023
The Bank of Canada releases the first quarter issues of the Business Outlook Survey and the Canadian Survey of Consumer Expectations
On Monday, April 3, 2023, the Bank of Canada will release the first quarter issue of the Business Outlook Survey and the latest results of the Canadian Survey of Consumer Expectations. -
April 3, 2023
Business Outlook Survey—First Quarter of 2023
Results from the first-quarter 2023 Business Outlook Survey and the Business Leaders’ Pulse surveys from January through March 2023 show a subdued sales outlook and plans for modest growth in capital expenditures. The labour market remains tight, but pressures have eased from high levels. -
April 3, 2023
Canadian Survey of Consumer Expectations—First Quarter of 2023
Results in the first quarter of 2023 show that consumer expectations for inflation one to two years ahead fell but remain elevated, particularly for services. Consumers, especially indebted households and equity-deserving groups, are facing financial pressures and limits on their spending due to high inflation and increasing interest rates. Consumers expect to spend less on discretionary services, such as travelling and eating out. Canadians continue to anticipate a recession in the next 12 months. Many are uncertain about where the economy and job markets are going. Despite this, workers still see the labour market as strong and expect wage growth to increase. -
Turning Words into Numbers: Measuring News Media Coverage of Shortages
We develop high-frequency, news-based indicators using natural language processing methods to analyze news media texts. Our indicators track both supply (raw, intermediate and final goods) and labour shortages over time. They also provide weekly time-varying topic narratives about various types of shortages.