Posts

• December 20, 2023

  Summary of Governing Council deliberations: Fixed announcement date of December 6, 2023

  This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on December 6, 2023.

  Content Type(s): Publications, Summary of deliberations

• The impact of higher interest rates on mortgage payments

  Staff Analytical Note 2023-19 Maria teNyenhuis, Adam Su

  We investigate how the increase in interest rates since early 2022 is affecting mortgage payments. By November 2023, less than half of mortgage holders had faced higher payments. Many borrowers will see a sizable increase in payments at renewal, although income growth could help mitigate the impact.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Credit and credit aggregates, Financial institutions, Interest rates, Recent economic and financial developments JEL Code(s): D, D1, E, E4, E5, G, G2, G21

• Finding the balance—measuring risks to inflation and to GDP growth

  Staff Analytical Note 2023-18 Bruno Feunou, James Kyeong

  Using our new quantitative tool, we show how the risks to the inflation and growth outlooks have evolved over the course of 2023.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Business fluctuations and cycles, Econometric and statistical methods JEL Code(s): C, C3, C32, C5, C58, E, E4, E44, G, G1, G17

• Supporting the Transition to Net-Zero Emissions: The Evolving Role of Central Banks

  Staff Discussion Paper 2023-31 Karen McGuinness

  While climate change was largely tackled by government policies in the past, central banks are increasingly grappling with the risks climate change poses. They are evaluating their operational policies to reflect these risks and the transition to a net-zero economy. This paper explores the trade-offs and considerations central banks face.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Central bank research, Climate change, Financial markets JEL Code(s): D, D5, D53, E, E5, E58, E6, E63, G, G3, G32, Q, Q5, Q54
• December 15, 2023

  Speech by Tiff Macklem, Governor of the Bank of Canada

  On Friday, December 15, 2023, Tiff Macklem, Governor of the Bank of Canada, will speak before the Canadian Club Toronto.

  Content Type(s): Press, Media advisories
• December 15, 2023

  Lessons learned and looking ahead

  Speech summary Tiff Macklem Canadian Club Toronto Toronto, Ontario

  In his year-end remarks, Governor Tiff Macklem discusses how lessons learned from recent economic volatility are reshaping the way the Bank of Canada conducts economic analysis and communicates with the public.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Economic models, Expectations, Inflation and prices, Inflation: costs and benefits, Interest rates, Labour markets, Monetary policy, Monetary policy and uncertainty, Monetary policy communications, Monetary policy transmission, Price stability
• December 15, 2023

  Bank of Canada announces changes to communications of interest rate decisions

  The Bank of Canada today announced changes to its procedures for communicating monetary policy decisions, which will take effect in 2024.

  Content Type(s): Press, Market notices
• December 15, 2023

  The path to price stability

  Remarks Tiff Macklem Canadian Club Toronto Toronto, Ontario

  Governor Tiff Macklem discusses how the economy will continue to adjust to higher interest rates in the year ahead, and outlines what Canadians can expect from the Bank of Canada.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Economic models, Expectations, Inflation and prices, Inflation: costs and benefits, Interest rates, Labour markets, Monetary policy, Monetary policy and uncertainty, Monetary policy communications, Monetary policy transmission, Price stability
• December 15, 2023

  Bank of Canada Media Interview – Globe and Mail

  Tiff Macklem, Governor of the Bank of Canada, gave an interview today to David Parkinson and Mark Rendell of the Globe and Mail.

  Content Type(s): Press, Media advisories
• December 15, 2023

  Bank of Canada Media Interview – BNN Bloomberg

  Tiff Macklem, Governor of the Bank of Canada, gave an interview today to Amanda Lang of BNN Bloomberg.

  Content Type(s): Press, Media advisories