February 16, 2023 Speech by Paul Beaudry, Deputy Governor of the Bank of Canada On Thursday, February 16, 2023, Paul Beaudry, Deputy Governor of the Bank of Canada, will speak before the Alberta School of Business, University of Alberta. Content Type(s): Press, Media advisories
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
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 6, 2023 Market Participants Survey—Fourth Quarter of 2022 The Market Participants Survey results are based on questionnaire responses from about 30 financial market participants. Content Type(s): Publications, Market Participants Survey
Climate Variability and International Trade Staff Working Paper 2023-8 Geoffrey R. Dunbar, Walter Steingress, Ben Tomlin This paper quantifies the impact of hurricanes on seaborne international trade to the United States. Matching the timing of hurricane–trade route intersections with monthly U.S. port-level trade data, we isolate the unanticipated effects of a hurricane hitting a trade route using two separate identification schemes: an event study and a local projection. Content Type(s): Staff research, Staff working papers Topic(s): Climate change, International topics JEL Code(s): C, C2, C22, C5, F, F1, F14, F18, Q, Q5, Q54
The 2021–22 Surge in Inflation Staff Discussion Paper 2023-3 Oleksiy Kryvtsov, James (Jim) C. MacGee, Luis Uzeda The rise in inflation in 2021–22 sparked a growing literature and debate over the causes of the surge as well as the near- and medium-term path for inflation. This review offers three key messages. Content Type(s): Staff research, Staff discussion papers Topic(s): Inflation and prices, Inflation targets, Monetary policy JEL Code(s): E, E3, E31, E5, E52, E58
January 25, 2023 Bank of Canada increases policy interest rate by 25 basis points, continues quantitative tightening Media Relations Ottawa, Ontario The Bank of Canada today increased its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. Content Type(s): Press, Press releases
September 13, 2022 Bank of Canada to delay bond auction in observance of federal Day of Mourning; will support key payment and settlement systems as well as financial markets In observance of the federal Day of Mourning to mark the death of Queen Elizabeth II, the Bank of Canada will postpone the auction of 10-year Government of Canada bonds that had been scheduled for Monday, September 19. Content Type(s): Press, Market notices Source(s): Government securities auctions, Overnight repo and overnight reverse repo operations, Securities Repo Operations
August 29, 2022 CARR Meeting (August 29, 2022) Content Type(s): Meetings Source(s): Canadian Alternative Reference Rate Working Group
July 31, 2022 Research Update - July 2022 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