Uncategorized

• Persistent Debt and Business Cycles in an Economy with Production Heterogeneity

  Staff Working Paper 2023-17 Aubhik Khan, Soyoung Lee

  We examine the role of debt in amplifying and propagating recessions. Firms’ debt adjustment makes recessions deeper but makes expansions gradual. In particular, when the aggregate business leverage is ten percentage points above average, the half-life of the recovery doubles.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Firm dynamics, Productivity JEL Code(s): E, E2, E23, E3, E30, E32
• March 13, 2023

  Law Enforcement Award of Excellence for Counterfeit Deterrence

  The call for nominations is open until April 21, 2023.

  Content Type(s): Press, Announcements

• Cost Pass-Through with Capacity Constraints and International Linkages

  Staff Working Paper 2023-16 Reinhard Ellwanger, Hinnerk Gnutzmann, Piotr Śpiewanowski

  How are regional cost shocks passed through into global prices? We investigate the role of short-run capacity constraints and show that they can induce stark non-linearities in the pass-through. We highlight this effect for the market for ammonia, a commodity produced largely from natural gas.

  Content Type(s): Staff research, Staff working papers Topic(s): Climate change, Econometric and statistical methods, Inflation and prices, International topics JEL Code(s): L, L1, L13, L6, L65, Q, Q4, Q40, Q5, Q54
• March 9, 2023

  Bank of Canada Media Interview – CBC Manitoba

  Carolyn Rogers, Senior Deputy Governor of the Bank of Canada, will give a live interview to CBC Manitoba in Winnipeg.

  Content Type(s): Press, Media advisories
• March 9, 2023

  Up To Speed, CBC Radio

  

  Carolyn Rogers, Senior Deputy Governor of the Bank of Canada
  Interview with Up to Speed on CBC Radio

  Content Type(s): Press, Media activities
• March 9, 2023

  Economic progress report: Thinking globally, acting locally

  Remarks Carolyn Rogers Manitoba Chambers of Commerce Winnipeg, Manitoba

  Senior Deputy Governor Carolyn Rogers discusses the Bank’s latest interest rate decision and recent global and domestic developments, including how Canada’s economic and inflation experience compares with other countries.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Domestic demand and components, Firm dynamics, Inflation and prices, Inflation targets, Interest rates, International topics, Labour markets, Monetary policy, Price stability, Recent economic and financial developments
• March 9, 2023

  Speech by Carolyn Rogers, Senior Deputy Governor of the Bank of Canada

  On Thursday, March 9, 2023, Carolyn Rogers, Senior Deputy Governor of the Bank of Canada, will speak before the Manitoba Chambers of Commerce.

  Content Type(s): Press, Media advisories
• March 9, 2023

  CFEC Meeting (March 9, 2023)

  State Street

  Content Type(s): Meetings Source(s): Canadian Foreign Exchange Committee
• March 9, 2023

  Understanding the reasons for high inflation

  Speech summary Carolyn Rogers Manitoba Chambers of Commerce Winnipeg, Manitoba

  Speaking a day after we decided to hold the policy rate, Senior Deputy Governor Carolyn Rogers talks about the factors behind high inflation and how we know inflation is falling.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Domestic demand and components, Firm dynamics, Inflation and prices, Inflation targets, Interest rates, International topics, Labour markets, Monetary policy, Price stability, Recent economic and financial developments
• March 8, 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 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening.

  Content Type(s): Press, Press releases