Staff research, Publications
-
-
Exchange Rate Pass-Through to Consumer Prices: Theory and Recent Evidence
In an open economy such as Canada’s, exchange rate movements can have a material impact on consumer prices. This is particularly important in the current context, with the significant depreciation of the Canadian dollar vis-a-vis the U.S. dollar since late 2012. -
-
-
October 9, 2015
Senior Loan Officer Survey - Third-Quarter 2015
The survey results suggest that business-lending conditions were largely unchanged during the third quarter of 2015. -
October 9, 2015
Business Outlook Survey - Autumn 2015
The autumn Business Outlook Survey shows that firms’ expectations continue to diverge as they gradually adjust to an environment of weaker commodity prices and a lower Canadian dollar. The overall sales and investment outlook improved, owing in part to continued support from U.S. demand. However, business sentiment remains weak for firms directly and indirectly tied to the resource sector. -
-
The Optimal Level of the Inflation Target: A Selective Review of the Literature and Outstanding Issues
Bank of Canada research done prior to the most recent renewal of the inflation-control agreement in 2011 concluded that the benefits associated with a target below 2 per cent were insufficient to justify the increased risk of being constrained by the zero lower bound (ZLB) on nominal interest rates. -
September 30, 2015
Research Update - September 2015
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. -
On the Nexus of Monetary Policy and Financial Stability: Recent Developments and Research
Because financial and macroeconomic conditions are tightly interconnected, financial stability considerations are an important element of any monetary policy framework. Yet, the circumstances under which it would be appropriate for the Bank to use monetary policy to lean against financial risks need to be more fully specified (Côté 2014).