Uncategorized

• June 7, 2023

  Bank of Canada raises policy rate 25 basis points, continues quantitative tightening

  Media Relations Ottawa, Ontario

  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%.

  Content Type(s): Press, Press releases
• 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.

  Content Type(s): Press, Media advisories

• Time Use and Macroeconomic Uncertainty

  Staff Working Paper 2023-29 Matteo Cacciatore, Stefano Gnocchi, Daniela Hauser

  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.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Coronavirus disease (COVID-19), Domestic demand and components, Monetary policy and uncertainty JEL Code(s): E, E2, E24, E3, E32, E5, E52, J, J2, J22

• Crowdfunding and Risk

  Staff Working Paper 2023-28 David Cimon

  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.

  Content Type(s): Staff research, Staff working papers Topic(s): Digital currencies and fintech, Financial markets, Financial services JEL Code(s): G, G2, G21, G24, G3, G32

• An Investigation into the Effects of Border Carbon Adjustments on the Canadian Economy

  Staff Working Paper 2023-27 Y.-H. Henry Chen, Hossein Hosseini, Craig Johnston, Sergey Paltsev, Marie-Christine Tremblay

  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.

  Content Type(s): Staff research, Staff working papers Topic(s): Climate change, International topics, Trade integration JEL Code(s): C, C6, C68, F, F1, H, H2, Q, Q3, Q37, Q5

• Benchmarks for assessing labour market health: 2023 update

  Staff Analytical Note 2023-7 Erik Ens, Kurt See, Corinne Luu

  We enhance benchmarks for assessing strength in the Canadian labour market. We find the labour market remains tight despite recent strong increases in labour supply, including among prime-working-age women. We also assess the anticipated easing in labour conditions in a context of high population growth.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Business fluctuations and cycles, Coronavirus disease (COVID-19), Econometric and statistical methods, Labour markets, Monetary policy JEL Code(s): E, E2, E24, J, J2, J21, J6
• May 26, 2023

  Quarterly Financial Report - First Quarter 2023

  Quarterly Financial Report - First Quarter 2023 - For the period ended March 31, 2023

  Content Type(s): Publications, Quarterly Financial Report
• May 25, 2023

  CFIF welcomes the launch of the new Canadian Collateral Management Service

  TMX Group Limited and Clearstream Banking S.A. announced plans to launch a Canadian Collateral Management Service (CCMS) later this year.

  Content Type(s): Press, Market notices Source(s): Canadian Fixed-Income Forum
• May 25, 2023

  New exhibition Money in 10 Questions: Kids Edition opens at the Bank of Canada Museum

  Media Relations Ottawa, Ontario

  The Bank of Canada Museum is inviting children to visit a new exhibition that is inspired by questions they have about money. Money in 10 Questions: Kids Edition is a play-based experience that helps children understand money and how to handle it. The exhibit opens to the public on May 25 and includes special activities for families.

  Content Type(s): Press, Press releases
• May 23, 2023

  Bank of Canada Museum announces 2023 recipients of Award for Excellence in Teaching Economics

  Media Relations Ottawa, Ontario

  The Bank of Canada Museum is honouring two outstanding educators for their exceptional work in teaching students about the economy.

  Content Type(s): Press, Press releases