Is the Excess Bond Premium a Leading Indicator of Canadian Economic Activity? Staff Analytical Note 2018-4 Maxime Leboeuf, Daniel Hyun This note investigates whether Canadian corporate spreads and the excess bond premium (EBP) lead Canadian economic activity. Indeed, we find that corporate spreads precede changes in real gross domestic product (GDP) in Canada over the subsequent year. The EBP accounts for most of this property. Further, an unanticipated increase in the Canadian EBP forecasts a deterioration of domestic macroeconomic conditions: a 10-basis-point increase results in a fall in both GDP and consumer price index (CPI) of 0.4 per cent and 0.1 per cent, respectively, over three years. Content Type(s): Staff research, Staff analytical notes Topic(s): Business fluctuations and cycles, Financial markets JEL Code(s): E, E3, E32, E4, E44, G, G1, G12
March 5, 2018 Inaugural recipients of Master’s Scholarship Award for Women in Economics and Finance announced Media Relations Ottawa, Ontario The Bank of Canada is pleased to announce the first ever recipients of its Master’s Scholarship Award for Women in Economics and Finance. Content Type(s): Press, Press releases
March 1, 2018 Canada’s vertical $10 note Explore and share the $10 polymer bank note featuring Viola Desmond.
March 1, 2018 Security features on the vertical $10 note The bold security features on the vertical $10 note are easy to check and difficult to counterfeit.
March 1, 2018 Interest rates charged for new and existing lending by chartered banks Month-end statement of interest rates charged vis-à-vis new and existing loans, booked in Canada, in Canadian dollars only, to Canadian households and corporate sectors by chartered banks.
March 1, 2018 Funds advanced and outstanding balances for new and existing lending by chartered banks Month-end statement of funds advanced and outstanding balances vis-à-vis new and existing loans, booked in Canada, in Canadian dollars only, to Canadian households and corporate sectors by chartered banks.
March 1, 2018 Central Bank of the Year Award Remarks Stephen S. Poloz Central Banking Awards 2018 London, United Kingdom Governor Stephen S. Poloz accepts the Central Bank of the Year award from Central Banking. Content Type(s): Press, Speeches and appearances, Remarks
February 28, 2018 Research Update - February 2018 This monthly newsletter features the latest research publications by Bank of Canada economists including external publications and working papers published on the Bank of Canada’s website. Content Type(s): Staff research, Research newsletters