Posts
-
-
Perceived versus Calibrated Income Risks in Heterogeneous-Agent Consumption Models
Perceived income risks reported in a survey of consumer expectations are more heterogeneous and, on average, lower than indirectly calibrated risks based on panel data. They prove to be one explanation for why a large fraction of households hold very little liquid savings and why accumulated wealth is widely unequal across households. -
December 22, 2023
BNN Bloomberg
Tiff Macklem, Governor of the Bank of Canada
Interview with BNN Bloomberg -
December 22, 2023
The Globe and Mail
Tiff Macklem, Governor of the Bank of Canada
Interview with The Globe and Mail -
December 21, 2023
Summary of Comments – Summer 2023 Canada Mortgage Bonds Consultation
In Budget 2023, the government announced its intention to hold market consultations on a proposal to consolidate Canada Mortgage Bonds (CMBs) within the regular Government of Canada (GoC) borrowing program. -
December 21, 2023
Summary of Comments – Fall 2023 Debt Management Strategy Consultations
Today, the Fall 2023 Debt Management Strategy Consultations Summary is being published, following the release of the Government of Canada’s Economic and Fiscal Update 2023. -
December 21, 2023
How higher interest rates affect inflation
When the Bank of Canada changes its policy interest rate, it affects every part of the economy – but that does not happen all at once. Learn more about how raising and lowering interest rates takes effect through the monetary policy transmission mechanism. -
Climate-Related Flood Risk to Residential Lending Portfolios in Canada
We assess the potential financial risks of current and projected flooding caused by extreme weather events in Canada. We focus on the residential real estate secured lending (RESL) portfolios of Canadian financial institutions (FIs) because RESL portfolios are an important component of FIs’ balance sheets and because the assets used to secure such loans are immobile and susceptible to climate-related extreme weather events. -
December 20, 2023
Bank of Canada Media Interview – La Presse
Tiff Macklem, Governor of the Bank of Canada, gave an interview to La Presse’s Hélène Baril. -
Understanding the Systemic Implications of Climate Transition Risk: Applying a Framework Using Canadian Financial System Data
Our study aims to gain insight on financial stability and climate transition risk. We develop a methodological framework that captures the direct effects of a stressful climate transition shock as well as the indirect—or systemic—implications of these direct effects. We apply this framework using data from the Canadian financial system.