Posts
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October 30, 2018
Opening Statement before the House of Commons Standing Committee on Finance
Good afternoon, Mr. Chairman and committee members. Senior Deputy Governor Wilkins and I are pleased to be with you today to discuss the Bank’s Monetary Policy Report. At the time of our last appearance in April, our message was about the considerable economic progress that we had seen. We explained that after a lacklustre start […] -
Characterizing the Canadian Financial Cycle with Frequency Filtering Approaches
In this note, I use two multivariate frequency filtering approaches to characterize the Canadian financial cycle by capturing fluctuations in the underlying variables with respect to a long-term trend. The first approach is a dynamically weighted composite, and the second is a stochastic cycle model. -
Multibank Holding Companies and Bank Stability
This paper studies the relationship between bank holding company affiliation and the individual and systemic risk of banks. Using the 2005 hurricane season in the US as an exogenous shock to bank balance sheets, we show that banks that are part of a holding parent company are more resilient than independent banks. -
October 25, 2018
Money for Nothing? A Central Banker’s Take on Cryptoassets
Senior Deputy Governor Carolyn A. Wilkins discusses cryptoassets and the key questions they pose for central banks. -
October 24, 2018
Monetary Policy Report Press Conference Opening Statement
Senior Deputy Governor Carolyn A. Wilkins discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR. -
October 24, 2018
Bank of Canada increases overnight rate target to 1 ¾ per cent
The Bank of Canada today increased its target for the overnight rate to 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent. -
October 24, 2018
Monetary Policy Report – October 2018
The Bank projects that the Canadian economy will continue to grow in line with its potential through 2020. -
October 22, 2018
Payments Canada, the Bank of Canada, TMX Group, Accenture and R3 publish report about the feasibility of equity settlement through Distributed Ledger Technology
This joint press release describes a new report on the findings of the third phase of the Project Jasper research initiative. -
Introducing a Systematic Measure of Idiosyncratic Prices
There is a risk that Bank of Canada staff may inadvertently be biased when analyzing inflation: when inflation surprises on the downside, staff might emphasize negative idiosyncratic factors. When inflation surprises on the upside, staff might emphasize the positive idiosyncratic factors.