Posts

• June 19, 2024

  Summary of Governing Council deliberations: Fixed announcement date of June 5, 2024

  This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on June 5, 2024.

  Content Type(s): Publications, Summary of deliberations
• June 19, 2024

  What you pay for at the pump

  

  Kun Mo

  Several factors help set gasoline prices: the costs of crude oil, refining, transporting, retailing and marketing gas, as well as taxes.

  Content Type(s): Publications, The Economy, Plain and Simple Topic(s): Exchange rates, Inflation and prices, Market structure and pricing

• Impacts of interest rate hikes on the consumption of households with a mortgage

  Staff Analytical Note 2024-14 Panagiotis Bouras, Joaquín Saldain, Xing Guo, Thomas Michael Pugh, Maria teNyenhuis

  We assess how much the recent rate-hike cycle has and will affect mortgage borrowers' consumption through its impacts on mortgage payments. Our analysis provides insights into the effects of changes in monetary policy on the consumption of mortgage borrowers.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Interest rates, Monetary policy, Recent economic and financial developments JEL Code(s): D, D1, D13, E, E2, E21, G, G5
• June 17, 2024

  CFEC Meeting (June 17, 2024)

  Content Type(s): Meetings Source(s): Canadian Foreign Exchange Committee
• June 17, 2024

  Significant adverse impact

  This supervisory policy provides an overview of what the Bank of Canada will consider when determining whether a “significant adverse impact” is occurring or has occurred.

  Content Type(s): Retail payments supervision materials, Supervisory policies Topic(s): Enforcement, Supervision
• June 17, 2024

  Roles and Responsibilities of the Executive Director and Managing Director

  This supervisory policy outlines the roles of the Executive Director of Payments, Supervision and Oversight and the Managing Director of Supervision. It also describes their responsibilities related to the Bank of Canada’s retail payments supervision mandate.

  Content Type(s): Retail payments supervision materials, Supervisory policies Topic(s): Enforcement, Registration, Supervision
• June 17, 2024

  Governor’s review

  This supervisory policy describes the Bank of Canada’s Governor’s review process and outlines what individuals, entities and payment service providers should expect if they request a Governor’s review of a retail payments supervision decision.

  Content Type(s): Retail payments supervision materials, Supervisory policies Topic(s): Enforcement, Registration
• June 17, 2024

  Issuing public notice of decisions

  This supervisory policy provides details on the Bank of Canada’s issuing of public notice for certain retail payments supervision and Governor’s decisions.

  Content Type(s): Retail payments supervision materials, Supervisory policies Topic(s): Enforcement, Registration

• Non-Parametric Identification and Testing of Quantal Response Equilibrium

  Staff Working Paper 2024-24 Johannes Hoelzemann, Ryan Webb, Erhao Xie

  We show that the utility function and the error distribution are non-parametrically over-identified under Quantal Response Equilibrium (QRE). This leads to a simple test for QRE. We illustrate our method in a Monte Carlo exercise and a laboratory experiment.

  Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Economic models JEL Code(s): C, C1, C14, C5, C57, C9, C92
• June 17, 2024

  Enforcement tools

  This supervisory policy lists the enforcement tools the Bank could use if enforcement action is needed against individuals, entities and payment service providers.

  Content Type(s): Retail payments supervision materials, Supervisory policies Topic(s): Enforcement, Registration