Posts

• Exporting and Investment Under Credit Constraints

  Staff Working Paper 2023-10 Kim Huynh, Robert Petrunia, Joel Rodrigue, Walter Steingress

  We examine the relationship between firms’ performance and credit constraints affecting export market entry. Using administrative Canadian firm-level data, our findings show that new exporters (a) increase their productivity, (b) raise their leverage ratio and (c) increase investment. We estimate that 48 percent of Canadian manufacturers face binding credit constraints when deciding whether to enter export markets.

  Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Firm dynamics, International topics, Productivity JEL Code(s): F, F1, F10, F14, F3, F36, G, G2, G20, G28, G3, G32

• Central Bank Digital Currencies and Banking: Literature Review and New Questions

  Staff Discussion Paper 2023-4 James Chapman, Jonathan Chiu, Mohammad Davoodalhosseini, Janet Hua Jiang, Francisco Rivadeneyra, Yu Zhu

  We review the nascent but fast-growing literature on central bank digital currencies (CBDCs), focusing on their potential impacts on private banks. We evaluate these impacts in three areas of traditional banking: payments, lending and liquidity and maturity transformation. We also take a broader look at CBDCs and highlight two promising directions for future research.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Central bank research, Digital currencies and fintech, Financial institutions, Financial stability JEL Code(s): E, E5, E50, E58, G, G0, G00, L, L0, L00
• February 8, 2023

  Summary of Governing Council deliberations: Fixed announcement date of January 25, 2023

  This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on January 25, 2023.

  Content Type(s): Publications, Summary of deliberations
• February 8, 2023

  Release of the Bank of Canada’s summary of deliberations

  On Wednesday, February 8, 2023, the Bank of Canada will publish a summary of the deliberations that took place ahead of its interest rate decision on January 25, 2023.

  Content Type(s): Press, Media advisories
• February 7, 2023

  Bank of Canada Media Interview – Bloomberg News

  Tiff Macklem, Governor of the Bank of Canada, gave an interview to Erik Hertzberg of Bloomberg News.

  Content Type(s): Press, Media advisories
• February 7, 2023

  Bank of Canada Media Interview – Le Soleil

  Tiff Macklem, Governor of the Bank of Canada, gave an interview to Annie Lafrance of Le Soleil.

  Content Type(s): Press, Media advisories
• February 7, 2023

  Bloomberg News

  

  Tiff Macklem, Governor of the Bank of Canada
  Interview with Bloomberg News

  Content Type(s): Press, Media activities
• February 7, 2023

  Le Soleil

  

  Tiff Macklem, Governor of the Bank of Canada
  Interview with Le Soleil

  Content Type(s): Press, Media activities
• February 7, 2023

  Speech by Tiff Macklem, Governor of the Bank of Canada

  On Tuesday, February 7, 2023, Tiff Macklem, Governor of the Bank of Canada, will speak before the CFA Québec.

  Content Type(s): Press, Media advisories
• February 7, 2023

  Monetary policy at work

  Remarks Tiff Macklem CFA Québec Québec, Québec

  Bank of Canada Governor Tiff Macklem explains how recent interest rate increases work their way through the Canadian economy to slow demand and bring inflation down.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Domestic demand and components, Exchange rates, Inflation and prices, Interest rates, Monetary policy, Monetary policy transmission, Recent economic and financial developments