September 18, 2024 Publication: Summary of Deliberations 13:30 (ET)Bank of Canada Content Type(s): Upcoming events
September 10, 2024 Speech: Tiff Macklem, Governor 08:25 (ET) London, U.K. Content Type(s): Upcoming events
September 4, 2024 Interest Rate Announcement 09:45 (ET) On eight scheduled dates each year, the Bank of Canada announces the setting for the overnight rate target in a press release explaining the factors behind the decision. Content Type(s): Upcoming events
August 19, 2024 Release: Senior Loan Officer Survey 10:30 (ET) The Senior Loan Officer Survey collects information on the business-lending practices of Canadian financial institutions. Content Type(s): Upcoming events
August 7, 2024 Publication: Summary of Deliberations 13:30 (ET)Bank of Canada Content Type(s): Upcoming events
August 5, 2024 Civic Holiday Provincial holiday: Alberta, British Columbia, Nova Scotia and Ontario Content Type(s): Upcoming events
August 2, 2024 Release: Market Participants Survey 10:30 (ET)The Market Participants Survey is conducted quarterly. Bank of Canada staff reach out to a diverse set of participants in financial markets to gather their views on key macroeconomic and financial variables as well as on monetary policy. Content Type(s): Upcoming events
Housing Affordability and Parental Income Support Staff Working Paper 2024-28 Jason Allen, Kyra Carmichael, Robert Clark, Shaoteng Li, Nicolas Vincent In many countries, the cost of housing has greatly outpaced income growth, leading to a housing affordability crisis. Leveraging Canadian loan-level data and quasi-experimental variation in payment-to-income constraints, we document an increasing reliance of first-time homebuyers on financial help from their parents, through mortgage co-signing. We show that parental support can effectively relax borrowing constraints—potentially to riskier borrowers. Content Type(s): Staff research, Staff working papers Topic(s): Financial services, Financial system regulation and policies, Housing JEL Code(s): D, D6, D64, E, E2, E21, E24, G, G1, G18, G5, G51