May 9, 2018 Strengthening Our Cyber Defences Remarks Filipe Dinis Payments Canada Toronto, Ontario Chief Operating Office Filipe Dinis outlines how the Bank is strengthening its cyber defenses and helping improve the financial system’s cyber resilience and its ability to recover quickly from attacks. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Currency, Digital currency, Financial system, Financial markets, Financial stability
May 17, 1996 The Transmission of Monetary Policy Gordon Thiessen, Bruce Montador, Kevin Clinton, Kevin Fettig, Donna Howard, Charles Freedman, Pierre Duguay, Stephen S. Poloz, Tim Noël Text of major 1995 lecture by Bank Governor Gordon Thiessen, plus articles from Bank of Canada Review and other sources Content Type(s): Publications, Books and monographs JEL Code(s): E, E5
Uncertainty and Monetary Policy Experimentation: Empirical Challenges and Insights from Academic Literature Staff discussion paper 2022-9 Matteo Cacciatore, Dmitry Matveev, Rodrigo Sekkel Central banks face considerable uncertainty when conducting monetary policy. The COVID-19 pandemic brought this issue back to the forefront of policy discussions. We draw from academic literature to review key sources of uncertainty and how they affect the conduct of monetary policy. Content Type(s): Staff research, Staff discussion papers JEL Code(s): E, E3, E5 Research Theme(s): Models and tools, Economic models, Monetary policy, Monetary policy framework and transmission, Monetary policy tools and implementation, Real economy and forecasting
How Oil Supply Shocks Affect the Global Economy: Evidence from Local Projections Staff discussion paper 2019-6 Olivier Gervais We provide empirical evidence on the impact of oil supply shocks on global aggregates. To do this, we first extract structural oil supply shocks from a standard oil-price determination model found in the literature. Content Type(s): Staff research, Staff discussion papers JEL Code(s): C, C2, C22, C5, E, E3, E37, Q, Q4, Q43 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Real economy and forecasting, Structural challenges, International trade, finance and competitiveness
August 26, 2025 Flexible inflation targeting in a shock-prone world Remarks Tiff Macklem Bank of Mexico 100ᵗʰ Anniversary Seminar Mexico City, Mexico Governor Tiff Macklem discusses how inflation targeting became a leading strategy for maintaining price stability and how the Bank of Canada is ensuring its monetary policy framework is fit for future challenges. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Monetary policy, Economic models, Economy/Economic growth, Inflation, Inflation targeting framework
Merchant Acceptance of Cash and Credit Cards at the Point of Sale Staff analytical note 2018-1 Ben Fung, Kim Huynh, Kerry Nield, Angelika Welte Recent data show that the use of credit cards in Canada has been increasing, while the use of cash has been declining. At the same time, only two-thirds of small or medium-sized businesses accept credit cards. Content Type(s): Staff research, Staff analytical notes JEL Code(s): C, C2, D, D1, E, E4, E41 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Money and payments, Cash and bank notes, Retail payments
April 9, 2009 Bank of Canada Review - Spring 2009 Examination of progress in the Bank’s exploration of two alternatives to the current inflation-targeting framework: (i) lowering the inflation target and (ii) shifting to a price-level target; a review of arguments for and against price-level targeting, focusing on its costs and benefits compared with inflation targeting; assessing the merits of price-level targeting vis-à-vis inflation targeting from a debt-revaluation perspective; quantifying redistribution of wealth in Canada in the face of unexpected inflation. Content Type(s): Publications, Bank of Canada Review
December 15, 1999 The Exchange Rate, Productivity, and the Standard of Living Bank of Canada Review - Winter 1999–2000 Robert Lafrance, Lawrence L. Schembri This article examines the recent proposition that the decline in Canada's standard of living relative to that of the United States is causally related to the decline in our exchange rate. The authors explore the main channels through which the exchange rate and the standard of living could be related—productivity and the terms of trade—focusing mainly on productivity. They conclude that the decline in world commodity prices and weak demand for domestic output were affecting both Canada's standard of living and the exchange rate and that the flexible exchange rate regime itself did not play an independent role. Content Type(s): Publications, Bank of Canada Review articles
June 23, 2005 Credit Default Swaps and the Canadian Context Financial System Review - June 2005 Christopher Reid Content Type(s): Publications, Financial System Review articles
May 14, 2015 Bank of Canada Review - Spring 2015 In this issue, Bank researchers discuss inflation dynamics and global trade following the 2007–09 financial crisis. Other articles explore changes to the governance and regulation of the Canadian payments system and outline the banking services provided by the Bank of Canada. Finally, the results of the 2013 Methods-of-Payment Survey are presented. Content Type(s): Publications, Bank of Canada Review