December 19, 2025 Financial stability indicators Get quarterly data for the indicators we use to track the evolution of the financial stability of the Canadian economy.
Assessing the Impact of Demand Shocks on the US Term Premium Staff Discussion Paper 2018-7 Russell Barnett, Konrad Zmitrowicz During and after the Great Recession of 2008–09, conventional monetary policy in the United States and many other advanced economies was constrained by the effective lower bound (ELB) on nominal interest rates. Several central banks implemented large-scale asset purchase (LSAP) programs, more commonly known as quantitative easing or QE, to provide additional monetary stimulus. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Financial markets, Interest rates, Monetary policy framework, Monetary policy implementation, Monetary policy transmission JEL Code(s): E, E4, E43, E5, E52, E58, E6, E61, E65, G, G1, G12
June 12, 2014 Financial System Review - June 2014 The Reports section of the Financial System Review examines selected issues of relevance to the Canadian and global financial systems. The June 2014 issue features three reports on financial system initiatives: making financial benchmarks more robust; implementing the stronger Basel III capital and liquidity framework for banks; and using stress tests to assess financial system risks. Content Type(s): Publications, Financial Stability Report
March 18, 2003 The Benefits of Sound Economic Policies Remarks David Dodge Italian Bankers Association Rome, Italy Canada and Italy share many similar characteristics. We both belong to the G-7, and we are among the smaller members of that group. Our two economies vary greatly from region to region, both in terms of structure and strength. Content Type(s): Press, Speeches and appearances, Remarks
Starting from a Blank Page? Semantic Similarity in Central Bank Communication and Market Volatility Staff Working Paper 2016-37 Michael Ehrmann, Jonathan Talmi Press releases announcing and explaining monetary policy decisions play a critical role in the communication strategy of central banks. Because of their market-moving potential, it is particularly important how they are drafted. Often, central banks start from the previous statement and update the earlier text with only small changes. Content Type(s): Staff research, Staff working papers Research Topic(s): Central bank research, Financial markets, Interest rates JEL Code(s): E, E4, E43, E5, E52, E58
Central Bank Crisis Interventions: A Review of the Recent Literature on Potential Costs Staff Discussion Paper 2023-30 Patrick Aldridge, David Cimon, Rishi Vala Central banks’ actions to stabilize financial markets and implement monetary policy during crises may come with costs and side effects. We provide a literature review of these costs and discuss measures that may mitigate the negative impacts of crisis actions. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Central bank research, Financial institutions, Financial markets, Financial stability, Lender of last resort JEL Code(s): E, E5, E58, G, G1, G10, G2, G20
Climate Variability and International Trade Staff Working Paper 2023-8 Geoffrey R. Dunbar, Walter Steingress, Ben Tomlin This paper quantifies the impact of hurricanes on seaborne international trade to the United States. Matching the timing of hurricane–trade route intersections with monthly U.S. port-level trade data, we isolate the unanticipated effects of a hurricane hitting a trade route using two separate identification schemes: an event study and a local projection. Content Type(s): Staff research, Staff working papers Research Topic(s): Climate change, International topics JEL Code(s): C, C2, C22, C5, F, F1, F14, F18, Q, Q5, Q54
January 23, 2013 Monetary Policy Report – January 2013 Following an estimated 1.9 per cent in 2012, the Canadian economy is expected to grow by 2.0 per cent in 2013 and 2.7 per cent in 2014, and to reach full capacity in the second half of 2014, later than anticipated in the October Report. Content Type(s): Publications, Monetary Policy Report
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 Research Topic(s): Central bank research, Monetary policy and uncertainty, Potential output JEL Code(s): E, E3, E5
COVID-19 Crisis: Lessons Learned for Future Policy Research Staff Discussion Paper 2021-2 Jean-Sébastien Fontaine, Corey Garriott, Jesse Johal, Jessica Lee, Andreas Uthemann One year later, we review the events that took place in Canadian fixed-income markets at the beginning of the COVID-19 crisis and propose potential policy research questions for future work. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Coronavirus disease (COVID-19), Financial markets, Monetary policy JEL Code(s): D, D4, D47, E, E4, E41, E5, G, G0, G01, G1, G14, G2, G20, G21, G23