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February 12, 2013

Opening Statement before the House of Commons Standing Committee on Finance

Opening statement Mark Carney House of Commons Standing Committee on Finance Ottawa, Ontario
Good morning. Tiff and I are pleased to be here with you today to discuss the January Monetary Policy Report, which the Bank recently published. While the global economic outlook is slightly weaker than the Bank had projected in October MPR, global tail risks have also diminished. The economic expansion in the United States is […]

Why Do Shoppers Use Cash? Evidence from Shopping Diary Data

Staff Working Paper 2012-24 Naoki Wakamori, Angelika Welte
Recent studies find that cash remains a dominant payment choice for small-value transactions despite the prevalence of alternative means of payment such as debit and credit cards. For policy makers an important question is whether consumers truly prefer using cash or merchants restrict card usage.
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