November 18, 2010 Bank of Canada Review - Autumn 2010 The premise that exchange rate pass-through has declined is critically reassessed; intensity in the negative feedback process between financial sector developments and the real economy during the recent global crisis is examined; update on past decade’s changing trends in debt issuance in Canada relative to those in other capital markets. Content Type(s): Publications, Bank of Canada Review
May 1, 2001 Monetary Policy Report – May 2001 At the time of the November 2000 Monetary Policy Report, although signs of the anticipated slowing of the U.S. economy were becoming apparent, the momentum of the global economy was considered strong. Content Type(s): Publications, Monetary Policy Report
December 21, 2007 Financial System Review - December 2007 The financial system makes an important contribution to the welfare of all Canadians. The ability of households and firms to confidently hold and transfer financial assets is one of the fundamental building blocks of the Canadian economy. Content Type(s): Publications, Financial Stability Report
February 17, 2004 Policies for Changing Times Remarks David Dodge Mexican Business Coordinating Council Mexico City, Mexico We both share borders with the United States, the most important export market for each of us. Both Canada and Mexico have recently faced setbacks in cross-border trade with the United States. These stem not only from weaker U.S. domestic demand, but also from specific trade problems and from border-crossing delays associated with tighter security. Content Type(s): Press, Speeches and appearances, Remarks
Supply Drivers of US Inflation Since the COVID-19 Pandemic Staff working paper 2023-19 Serdar Kabaca, Kerem Tuzcuoglu This paper examines the contribution of several supply factors to US headline inflation since the start of the COVID-19 pandemic. We identify six supply shocks using a structural VAR model: labor supply, labor productivity, global supply chain, oil price, price mark-up and wage mark-up shocks. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C3, C32, E, E3, E31, E32 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Monetary policy, Inflation dynamics and pressures
Monetary Policy Independence and the Strength of the Global Financial Cycle Staff working paper 2020-25 Christian Friedrich, Pierre Guérin, Danilo Leiva-Leon We propose a new strength measure of the global financial cycle by estimating a regime-switching factor model on cross-border equity flows for 61 countries. We then assess how the strength of the global financial cycle affects monetary policy independence, which is defined as the response of central banks' policy interest rates to exogenous changes in inflation. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E4, E5, F, F3, F32, F4, F42, G, G1, G15, G18 Research Theme(s): Financial system, Financial stability and systemic risk, Monetary policy, Monetary policy framework and transmission, Structural challenges, International trade, finance and competitiveness
August 24, 2004 Bank of Canada Review - Summer 2004 Cover page Promissory Note, 1712 The note measures 28 cm x 16 cm and forms part of the National Currency Collection, Bank of Canada. Photography by Gord Carter, Ottawa Content Type(s): Publications, Bank of Canada Review
August 25, 2020 Perceived inflation and reality: understanding the difference Remarks (delivered virtually) Lawrence L. Schembri Canadian Association for Business Economics Kingston, Ontario In a virtual address to the Canadian Association for Business Economics, Deputy Governor Lawrence Schembri discusses the difference between how Canadians perceive inflation and the actual measured rate. He explains why that gap may exist and what it could mean for monetary policy and the economy. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Monetary policy, Economic models, Economy/Economic growth, Inflation, Inflation targeting framework
June 30, 2015 Research Update - June 2015 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
Assessing global potential output growth: April 2026 Staff analytical paper 2026-20 Daniel de Munnik, Kristina Hess, Walter Muiruri, Tuuli McCully, Faiza Noor, Sabreena Obaid, Andrew Plummer, Louis Poirier, Abeer Reza, Jillian Schwartz We present the annual update of the Bank of Canada staff estimates for global potential output growth. These estimates served as key inputs to the analysis supporting the April 2026 Monetary Policy Report. Content Type(s): Staff research, Staff analytical paper JEL Code(s): E, E1, E2, F, F0, F1, O, O3, O33, O4 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Monetary policy, Real economy and forecasting, Structural challenges, Demographics and labour supply, Digitalization and productivity