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 27, 2018 Summary of Comments – 2018–19 Debt Management Strategy Consultations Today, the 2018–19 Debt Management Strategy Consultations Summary is being published in conjunction with the release of the Government of Canada’s Debt Management Strategy for 2018–19. Content Type(s): Press, Market notices
The “Too Big to Fail” Subsidy in Canada: Some Estimates Staff Working Paper 2018-9 Patricia Palhau Mora Implicit government guarantees of banking-sector liabilities reduce market discipline by private sector stakeholders and temper the risk sensitivity of funding costs. This potentially increases the likelihood of bailouts from taxpayers, especially in the absence of effective resolution frameworks. Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Financial stability JEL Code(s): G, G1, G13, G2, G21, G28
February 15, 2018 Anchoring Expectations: Canada’s Approach to Price Stability Remarks Lawrence L. Schembri Manitoba Association for Business Economists Winnipeg, Manitoba Deputy Governor Lawrence Schembri examines the success of the Bank’s monetary policy framework and explains the review being undertaken before its renewal in 2021. Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Central bank research, Credibility, Fiscal policy, Inflation and prices, Inflation targets, Monetary policy framework
February 12, 2018 Wilfrid Laurier University crowned National Champion of The Governor’s Challenge Media Relations Ottawa, Ontario Wilfrid Laurier University has won the Bank of Canada’s third annual Governor’s Challenge, a national student competition in which teams simulate the role of advisor to the Bank’s Governing Council. Content Type(s): Press, Press releases Source(s): The Governor's Challenge
February 8, 2018 Inclusive growth can come through innovation, says Senior Deputy Governor Wilkins Media Relations Montebello, Quebec The digital economy holds promise for higher overall living standards in the future, but it could leave some behind, Senior Deputy Governor Carolyn A. Wilkins told an audience of G7 deputies today. “Technological progress will raise economic growth, although the channels through which it contributed to rising inequality in the past are still forces to […] Content Type(s): Press, Press releases
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
January 31, 2018 Research Update - January 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
January 23, 2018 Overview of the Net Stable Funding Ratio - January 23, 2018 Presentation for the January 23, 2018 meeting of the Canadian Fixed-Income Forum.
February 5, 2018 The Government will not proceed with next week’s Ultra-Long bond auction The Government of Canada announced today that its criteria for ultra-long bond issuance were not met and as a result, the Government will not be issuing ultra-long bonds this quarter. Content Type(s): Press, Market notices