December 8, 2015 Prudent Preparation: The Evolution of Unconventional Monetary Policies Remarks Stephen S. Poloz The Empire Club of Canada Toronto, Ontario Governor Poloz speaks about the Bank’s updated framework for unconventional monetary policies. Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Asset pricing, Central bank research, Interest rates, Monetary policy framework, Monetary policy implementation, Recent economic and financial developments
January 15, 2024 Canadian Survey of Consumer Expectations—Fourth Quarter of 2023 Consumers believe inflation has fallen, but their expectations for inflation in the near term are showing little progress in returning to pre-pandemic levels. Slow progress may be due to persistently high inflation expectations for services such as rent. In addition, consumers increasingly think domestic factors, such as high government spending, are supporting high inflation, and they believe these factors will take longer to resolve than global factors. Consumers have adjusted their behaviour in response to prolonged high inflation—more people are paying attention to inflation and changing their spending habits. However, actions that may support inflation, such as seeking wage increases to offset it, are dissipating. The negative effects of high interest rates are broadening, and indicators of household financial stress are deteriorating. Consumers remain uncertain about the economic outlook, and this uncertainty is weighing on their spending plans. Workers think the labour market has weakened slightly. However, expectations for wage growth remain high, supported by cost-of-living adjustments in some workers’ wage contracts. Content Type(s): Publications, Canadian Survey of Consumer Expectations
September 25, 2007 Turbulence in Credit Markets: Causes, Effects, and Lessons To Be Learned Remarks David Dodge Vancouver Board of Trade Vancouver, British Columbia The turbulence in financial markets did not come about against a backdrop of economic weakness. Indeed, over the past number of years, the global economy has shown remarkable strength. We were also seeing encouraging signs of growth being spread more evenly. Content Type(s): Press, Speeches and appearances, Remarks
Tech Reluctance: Fostering Empathy for Canadians Facing Challenges with Digital Systems Staff Discussion Paper 2025-2 Sebastian Hernandez, Helena Wang, Badr Omrane, Vera Roberts, David Pereyra We find that individuals who require help performing banking tasks or who are reluctant to adopt technology avoid digital payment systems they expect to lack usability. Addressing these issues through standard accessibility practices, live assistance and thoughtful interface design can enhance user interaction and trust. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Accessibility, Bank notes, Central bank research, Digital currencies and fintech, Digitalization, Financial services JEL Code(s): A, A1, A14, C, C9, C90, D, D8, D83, O, O3, O33, Y, Y8, Y80
January 29, 1998 Annual Report 1997 With inflation remaining low for the sixth consecutive year, the Canadian economy recorded a strong expansion of about 4 per cent through 1997. Content Type(s): Publications, Annual Report
May 19, 2009 When the Unconventional Becomes Conventional: Monetary Policy in Extraordinary Times Remarks John Murray Global Interdependence Center Philadelphia, Pennsylvania The financial turbulence that began in the U.S. subprime-mortgage market in August 2007 reached maximum intensity towards the end of 2008, and enveloped the entire global economy. Strains that had previously been concentrated in a few major financial centers turned into a full-blown crisis, affecting both industrial and emerging-market economies through trade, financial, and confidence channels. Content Type(s): Press, Speeches and appearances, Remarks
Repo Market Functioning when the Interest Rate Is Low or Negative Staff Discussion Paper 2017-3 Jean-Sébastien Fontaine, James Hately, Adrian Walton This paper investigates how a low or negative overnight interest rate might affect the Canadian repo markets. The main conclusion is that the repo market for general collateral will continue to function effectively. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Financial markets, Interest rates, Market structure and pricing JEL Code(s): D, D4, G, G1, G10, G12
June 6, 2013 Opening Statement before the House of Commons Standing Committee on Finance Opening statement Stephen S. Poloz House of Commons Standing Committee on Finance Ottawa, Ontario Bank of Canada Governor Stephen S. Poloz discusses the current economic context and how that is influencing the Bank’s work of delivering confidence. Content Type(s): Press, Speeches and appearances, Opening statements
June 9, 2011 Annual Report 2010 In 2010, the economic recovery became firmly entrenched. The Bank’s Annual Report provides a Message from the Governor, highlights key achievements over the year, describes the Bank’s corporate governance, presents its financial statements, and discusses financial results. Content Type(s): Publications, Annual Report
August 25, 2018 The Fourth Industrial Revolution and Central Banking Remarks Stephen S. Poloz Federal Reserve Bank of Kansas City Jackson Hole, Wyoming Governor Poloz talks about the economic benefits expected from disruptive digital technologies and the implications for monetary policy. Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Domestic demand and components, Inflation and prices, Market structure and pricing, Monetary policy, Productivity