January 20, 2021
Posts
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January 20, 2021
Monetary Policy Report – January 2021
While a second wave of COVID-19 is hurting Canadians now, the economy should rebound strongly later in the year. The Bank is forecasting growth of around 4 percent this year and close to 5 percent in 2022.
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January 11, 2021
Operational details for upcoming secondary market purchases of Government of Canada securities (January 18-January 28)
As previously announced, the Bank of Canada (the Bank) launched on April 1, 2020 a program to purchase Government of Canada securities in the secondary market – the Government Bond Purchase Program (GBPP). -
January 11, 2021
Backgrounder on Business Outlook Survey data by region, sector and firm size
Every quarter, the Bank of Canada surveys about 100 firms and publishes the resulting narrative and related data in the Business Outlook Survey (BOS). Firms are asked to participate based on several criteria—most importantly, their region, sector and size. -
January 11, 2021
Business Outlook Survey—Winter 2020–21
In the winter Business Outlook Survey, firms pointed to a continued recovery supported by strengthening domestic and foreign demand, particularly in goods-producing sectors. Still, firms expect the recovery to be uneven; in particular, businesses that have been hit hard by the pandemic anticipate challenging times ahead. -
January 11, 2021
Canadian Survey of Consumer Expectations—Fourth Quarter of 2020
The Canadian Survey of Consumer Expectations (CSCE) collects respondents’ views on inflation, the labour market and household finances. The survey for the fourth quarter of 2020 was conducted from November 10 to December 1, 2020. This period coincides with a sharp increase in COVID‑19 cases across Canada and follows announcements about the development of effective vaccines. Since the survey was conducted, some provinces have imposed additional measures to contain the spread of the virus. In addition, the first vaccines have begun to be administered. Like the previous two surveys, the fourth-quarter survey included questions on the impacts of COVID‑19 and the measures to contain its spread. This survey also asked respondents how they used any benefits they received from income-support programs that governments put in place to help them through the pandemic. This quarter, the report provides some details by demographic characteristics. -
Allocative Efficiency and the Productivity Slowdown
In our analysis of the US productivity slowdown in the 1970s and 2000s, we find that a significant portion of this deceleration can be attributed to a lack of improvement in allocative efficiency across sectors. Our analysis further identifies increased sector-level volatility as a major contributor to this lack of improvement in allocative efficiency. -
January 1, 2021
About legal tender
Find out what “legal tender” means, why legal tender status changes, and how to redeem older bank notes. -
December 31, 2020
Research Update - December 2020
This monthly newsletter features the latest research publications by Bank of Canada economists including external publications and working papers published on the Bank of Canada’s website. -
Consumer Credit with Over-optimistic Borrowers
When lenders cannot directly identify behavioural and rational borrowers, they use type scoring to track the likelihood of a borrower’s type. This leads to the partial pooling of borrowers, which results in rational borrowers subsidizing borrowing costs for behavioural borrowers. This, in turn, reduces the effectiveness of regulatory policies that target mistakes by behavioural borrowers.