July 27, 2023 CARR publishes its recommendations for transitioning loans from CDOR to CORRA and provides a “no new CDOR or BA loan” milestone Today, the Canadian Alternative Reference Rate working group (CARR) published a set of documents that will help support the transition of the Canadian loan market from the Canadian Dollar Offered Rate (CDOR) to the Canadian Overnight Repo Rate Average (CORRA). Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
October 21, 2015 Release of the Monetary Policy Report Opening statement Stephen S. Poloz, Carolyn A. Wilkins Ottawa, Ontario Press conference following the release of the Monetary Policy Report. Content Type(s): Press, Speeches and appearances, Opening statements
July 21, 2025 Canadian Survey of Consumer Expectations—Second Quarter of 2025 Overall, results of the second-quarter 2025 survey show that the CSCE indicator—a measure developed to summarize the opinions of Canadian consumers—declined again this quarter as spending intentions continued to weaken due to the persistent threats of tariffs and related uncertainty. Consumers still see the labour market as soft, and their fear of job loss is elevated. The trade conflict is leading consumers to become increasingly cautious about their spending plans and to change their spending behaviour. Consumers’ short-term inflation expectations have changed little since increasing markedly in the first quarter of 2025. This quarter, more consumers cited tariffs as the most important factor affecting the Bank of Canada’s ability to control inflation. Content Type(s): Publications, Canadian Survey of Consumer Expectations
Historical Data on Repurchase Agreements from the Canadian Depository for Securities Technical report No. 121 Maxim Ralchenko, Adrian Walton We develop an algorithm that extracts information about sale and repurchase agreements (repos) from disaggregated settlement data in order to generate a new historical dataset for research. Content Type(s): Staff research, Technical reports JEL Code(s): C, C5, C55, C8, C81, G, G1, G10 Research Theme(s): Financial markets and funds management, Market functioning, Models and tools, Econometric, statistical and computational methods
Project Samara Research Paper Staff analytical paper 2026-8 Rakesh Arora, Umar Faruqui, Scott Hendry, Dinesh Shah, André Usche Project Samara was a real‑world experiment testing distributed ledger technology and wholesale central bank digital money for bond issuance and settlement in Canada. It demonstrated technical feasibility and potential efficiency and risk‑reduction benefits, while highlighting important trade‑offs related to complexity, governance, and regulatory alignment. Content Type(s): Staff research, Staff analytical paper JEL Code(s): E, E4, E42, E5, E58, G, G2, G28, O, O3, O33 Research Theme(s): Financial markets and funds management, Funds management, Market structure, Money and payments, Digital assets and fintech, Payment and financial market infrastructures
Benchmarks for assessing labour market health: 2024 update Staff analytical note 2024-8 Erik Ens, Alexander Lam, Kurt See, Gabriela Galassi We assess the health of the Canadian labour market. We find that it has seen gradual but material easing since 2023, amid some signs of structural changes. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E2, J, J2, J3, J6 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Real economy and forecasting, Structural challenges, Demographics and labour supply
Financial Constraints and Corporate Investment in China Staff discussion paper 2022-22 Kun Mo, Michel Soudan Financial constraints deter firms from pursuing optimal investment plans. In China, we find privately owned firms face greater financial constraints than state-owned enterprises (SOEs). This can be explained by our finding that lenders appear less concerned about the credit risk of SOEs, which causes distortions in the allocation of credit. Content Type(s): Staff research, Staff discussion papers JEL Code(s): E, E2, E22, G, G1, G3 Research Theme(s): Financial system, Financial institutions and intermediation, Household and business credit, Structural challenges, International trade, finance and competitiveness
May 19, 1999 Monetary Policy Report – May 1999 Six months ago, at the time of the last Monetary Policy Report, the global economic and financial environment was volatile and highly uncertain because of the adverse situation in Asia and the fallout from the Russian debt moratorium. Content Type(s): Publications, Monetary Policy Report
Procyclicality in Central Counterparty Margin Models: A Conceptual Tool Kit and the Key Parameters Staff discussion paper 2023-34 Alper Odabasioglu Regulators need to provide effective procyclicality guidance, and central counterparties must design and calibrate their margin systems and procyclicality frameworks appropriately. To serve these needs, we provide a novel conceptual tool kit. Further, we highlight that the focus should be on the key margin system parameters in determining procyclicality. Content Type(s): Staff research, Staff discussion papers JEL Code(s): G, G0, G01, G2, G23, G28 Research Theme(s): Financial system, Financial stability and systemic risk, Financial system regulation and oversight, Money and payments, Payment and financial market infrastructures
September 25, 2012 Financing Commodities Markets Remarks Timothy Lane CFA Society of Calgary Calgary, Alberta Deputy Governor Timothy Lane discusses links between the financial system and commodities markets. Content Type(s): Press, Speeches and appearances, Remarks