August 26, 2008 Work in Progress: The Bank of Canada's Response to the Financial Turbulence Remarks David Longworth Canadian Association for Business Economics Kingston, Ontario The financial turbulence over the past year has been costly and difficult for many individuals and financial institutions; it's been challenging for policy-makers; and it's had implications for the overall economy. Content Type(s): Press, Speeches and appearances, Remarks
December 11, 1997 Price stability, inflation targets, and monetary policy: Conference summary Bank of Canada Review - Winter 1997-1998 Tiff Macklem This article summarizes the proceedings of a conference hosted by the Bank of Canada in May 1997. The first conference held by the Bank on this subject was in 1993, two years after the introduction of inflation targeting in Canada. The 1997 conference revisited many of the analytic issues related to price stability that had been examined at the first conference, while also considering several additional questions. This time, with the extension of inflation-control targets beyond 1998 under consideration, particular emphasis was placed on the role and design of those targets. The conference also featured a round-table discussion among practitioners of monetary policy in three inflation-targeting countries—New Zealand, Sweden, and the United Kingdom. Their remarks, which focussed on the experience with inflation targets, bring out very clearly the common challenges facing monetary policymakers in open economies. Content Type(s): Publications, Bank of Canada Review articles Topic(s): Monetary policy framework
What Is Behind the Weakness in Global Investment? Staff Discussion Paper 2016-5 Maxime Leboeuf, Robert Fay The recovery in private business investment globally remains extremely weak more than seven years after the financial crisis. This paper contributes to the ongoing policy debate on the factors behind this weakness by analyzing the role of growth prospects and uncertainty in explaining developments in non-residential private business investment in large advanced economies since the crisis. Content Type(s): Staff research, Staff discussion papers Topic(s): Business fluctuations and cycles, Central bank research, Domestic demand and components, Economic models, International topics, Monetary policy and uncertainty, Recent economic and financial developments JEL Code(s): C, C2, C23, C3, C33, D, D2, D24, D8, D80, D84, E, E2, E22, F, F0, F01, G, G3, G31
July 10, 2006 Workshop on Commodity Price Issues Conference held on 10 and 11 July 2006 (papers in unedited, electronic format only) Content Type(s): Conferences and workshops
Potential output in Canada: 2020 reassessment Staff Analytical Note 2020-25 Dany Brouillette, Julien Champagne, Julien McDonald-Guimond After COVID-19, we expect potential output growth to stabilize around 1.2 percent. This is lower than the 2010–18 average growth of 1.8 percent. Relative to the April 2019 reassessment, the growth profile is revised down. Given the unknown course of the pandemic, uncertainty around these estimates is higher than in previous years. Content Type(s): Staff research, Staff analytical notes Topic(s): Labour markets, Potential output, Productivity JEL Code(s): E, E0, E00, E2, E23, E24, E3, E37, E6
June 30, 2023 Canadian Survey of Consumer Expectations—Second Quarter of 2023 Inflation expectations for one to two years ahead have come down again but remain well above their levels from before the COVID-19 pandemic. The higher cost of living is the most pressing concern for consumers, and along with elevated interest rates, continues to constrain most households’ spending. Homeowners who are planning to renew their mortgage over the next two years and who expect significantly higher payments are likely to plan spending cuts. Some households though are starting to think the worst is behind them. Consumer confidence about the future of the economy has improved alongside their lower inflation expectations. Expected lower interest rates and strong immigration, which boosts housing demand, are behind consumers’ view that housing market will increase over the next year. Workers remain confident about jobs. Content Type(s): Publications, Canadian Survey of Consumer Expectations
June 16, 2021 Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce Opening statement Tiff Macklem Standing Senate Committee on Banking, Trade and Commerce Ottawa, Ontario Content Type(s): Press, Speeches and appearances, Opening statements Topic(s): Coronavirus disease (COVID-19), Financial stability, Monetary policy, Recent economic and financial developments
January 31, 2022 CARR welcomes RBSL consultation on the potential cessation of CDOR The Canadian Alternative Reference Rate working group (CARR) welcomes the publication by the administrator of CDOR, Refinitiv Benchmark Services (UK) Limited (RBSL), of a consultation document on the potential permanent cessation of the Canadian Dollar Offered Rate (CDOR). Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
November 20, 2020 Financial System Survey highlights—November 2020 This article presents the key results from the autumn 2020 Bank of Canada Financial System Survey, conducted from September 8 to September 25, 2020. The survey included a special section on the impact of and the responses to COVID-19. Content Type(s): Publications, Financial System Survey
November 19, 2015 Measuring Durable Goods and Housing Prices in the CPI: An Empirical Assessment Bank of Canada Review - Autumn 2015 Patrick Sabourin, Pierre Duguay While the CPI is the most commonly used measure to track inflation, it is not fully consistent with a true cost-of-living index (COLI). Although the official treatment of durable goods and housing in the CPI represents an acceptable compromise in the current environment of low and stable inflation, Sabourin and Duguay suggest that it would be worthwhile to consider treating housing and durables in the same way and bringing the actual CPI closer to a COLI. This could be accomplished by employing an enhanced user-cost approach to calculate the imputed cost of the services provided by the use of durable goods or housing. Content Type(s): Publications, Bank of Canada Review articles Topic(s): Inflation and prices JEL Code(s): E, E3, E31, E5, E52