Posts

• October 25, 2023

  Monetary Policy Report Press Conference Opening Statement

  Opening statement Tiff Macklem Ottawa, Ontario

  Governor Tiff Macklem discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR.

  Content Type(s): Press, Speeches and appearances, Opening statements
• October 25, 2023

  Bank of Canada maintains policy rate, continues quantitative tightening

  Media Relations Ottawa, Ontario

  The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%.

  Content Type(s): Press, Press releases
• October 25, 2023

  Monetary Policy Report – October 2023

  

  Higher interest rates are working to ease price pressures in Canada and inflation is coming down, though progress to the 2% target is slow. The Bank projects that inflation will stay around 3½% until the middle of 2024, returning to target in 2025.

  Content Type(s): Publications, Monetary Policy Report
• October 25, 2023

  Bank of Canada interest rate announcement and release of the Monetary Policy Report

  On Wednesday, October 25, 2023, the Bank of Canada will announce its decision on the target for the overnight rate. A press release will provide a brief explanation of the decision. The Bank will also publish its quarterly Monetary Policy Report (MPR) at the same time as the rate decision.

  Content Type(s): Press, Media advisories
• October 23, 2023

  CARR Meeting (October 23, 2023)

  Content Type(s): Meetings Source(s): Canadian Alternative Reference Rate Working Group

• Identifying Nascent High-Growth Firms Using Machine Learning

  Staff Working Paper 2023-53 Stephanie Houle, Ryan Macdonald

  Firms that grow rapidly have the potential to usher in new innovations, products or processes (Kogan et al. 2017), become superstar firms (Haltiwanger et al. 2013) and impact the aggregate labour share (Autor et al. 2020; De Loecker et al. 2020). We explore the use of supervised machine learning techniques to identify a population of nascent high-growth firms using Canadian administrative firm-level data.

  Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Firm dynamics JEL Code(s): C, C5, C55, C8, C81, L, L2, L25
• October 16, 2023

  CFIF recommends path for winding down BA market

  Bankers’ Acceptances (BAs) will no longer be issued by the major Canadian banks after the cessation of the Canadian Dollar Offered Rate’s (CDOR) publication in June 2024.

  Content Type(s): Press, Market notices Source(s): Canadian Fixed-Income Forum

• Decentralized finance: Innovations and challenges

  Staff Analytical Note 2023-15 Jonathan Chiu, Hanna Yu

  Decentralized finance surged in popularity around 2020. We explore its value and limitations and highlight some potential regulatory concerns.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Digital currencies and fintech, Financial stability, Payment clearing and settlement systems JEL Code(s): G, G1, G2
• October 16, 2023

  The Bank of Canada releases the third quarter issues of the Business Outlook Survey and the Canadian Survey of Consumer Expectations

  On Monday, October 16, 2023, the Bank of Canada will release the third quarter issue of the Business Outlook Survey and the Canadian Survey of Consumer Expectations.

  Content Type(s): Press, Media advisories
• October 16, 2023

  Business Outlook Survey—Third Quarter of 2023

  Results from the Business Outlook Survey for the third quarter of 2023, along with those from the July, August and September 2023 Business Leaders’ Pulse surveys suggest that on balance, firms are still planning to make larger and more frequent price increases than they did before the COVID-19 pandemic. Further, businesses' outlook for demand has continued to weaken as higher interest rates impact the economy.

  Content Type(s): Publications, Business Outlook Survey