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9420 Results

Implementing Cross-Border Interbank Lending in BoC-GEM-FIN

Staff Discussion Paper 2016-19 Malik Shukayev, Argyn Toktamyssov
BIS interbank lending data show that the Great Recession generated large and persistent changes in the international interbank lending positions of various countries. The main objective of this study is to understand the role of changes in international interbank credit flows in transmitting shocks across borders.

Housing Market Dynamics and Macroprudential Policy

Staff Working Paper 2016-31 Gabriel Bruneau, Ian Christensen, Césaire Meh
We perform an analysis to determine how well the introduction of a countercyclical loanto- value (LTV) ratio can reduce household indebtedness and housing price fluctuations compared with a monetary policy rule augmented with house price inflation.

How Do Central Bank Projections and Forward Guidance Influence Private-Sector Forecasts?

Staff Working Paper 2018-2 Monica Jain, Christopher S. Sutherland
We construct a 23-country panel data set to consider the effect of central bank projections and forward guidance on private-sector forecast disagreement. We find that central bank projections and forward guidance matter mainly for private-sector forecast disagreement surrounding upcoming policy rate decisions and matter less for private-sector macroeconomic forecasts.
January 8, 2018

Business Outlook Survey - Winter 2017–18

Business sentiment in the winter Business Outlook Survey remains positive: the sales outlook is still healthy, despite some moderation. At the same time, capacity and labour pressures are becoming more apparent and are stimulating firms’ employment and investment plans.

The Impacts of Minimum Wage Increases on the Canadian Economy

Staff Analytical Note 2017-26 Dany Brouillette, Daniel Gao, Olivier Gervais, Calista Cheung
This note reviews the channels through which scheduled minimum wage increases over the coming years may affect Canadian economic activity and inflation and assesses their macroeconomic impacts. From reduced-form estimates of direct minimum wage pass-through, we find that consumer price index (CPI) inflation could be boosted by about 0.1 percentage point (pp) on average in 2018.
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