May 4, 2020 Bridge to Recovery: The Bank’s COVID-19 Pandemic Response Remarks (delivered virtually) Carolyn A. Wilkins C.D. Howe Institute Toronto, Ontario Senior Deputy Governor Carolyn A. Wilkins discusses measures the Bank has taken to address the COVID-19 pandemic and set the stage for recovery. Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Business fluctuations and cycles, Coronavirus disease (COVID-19), Financial institutions, Financial markets, Monetary policy and uncertainty, Monetary policy transmission, Recent economic and financial developments
The US Labour Market: How Much Slack Remains? Staff Analytical Note 2016-9 Robert Fay, James Ketcheson Despite the US unemployment rate being close to estimates of the non-accelerating-inflation rate of unemployment (NAIRU), measures of underemployment remain elevated, which could be an indication of remaining labour market slack. The shares of involuntary part-time workers and long-term unemployment are high relative to the current stage of the business cycle, suggesting available labour inputs are being underutilized. Content Type(s): Staff research, Staff analytical notes Research Topic(s): International topics, Labour markets, Recent economic and financial developments JEL Code(s): E, E2, E24, J, J2, J21, J23
February 26, 2008 Summary of Comments - 2008/09 Debt Strategy Consultations In November 2007, officials from the Department of Finance and the Bank of Canada sought views from government securities distributors, institutional investors, and other interested parties on the design and operation of the Government of Canada domestic debt program for the fiscal year 2008/09 and beyond.
Explaining Unusual Cash Patterns in 2018 Staff Analytical Note 2019-22 Walter Engert, Ben Fung, Jozsef Molnar, Gradon Nicholls There was an unusually large decline of bank notes in circulation in October 2018. Some have argued that this was due to the legalization of cannabis in Canada in mid-October. Content Type(s): Staff research, Staff analytical notes Research Topic(s): Bank notes, Digital currencies and fintech, Financial services JEL Code(s): E, E4, E41, E42, E5, E58
April 2, 2014 Briefing on Digital Currencies Remarks Grahame Johnson, Lukasz Pomorski Senate of Canada Ottawa, Ontario In an educational session on e-money to the Senate of Canada’s Standing Committee on Banking, Trade and Commerce. Grahame Johnson and Lukasz Pomorski highlight recent innovations in Canada’s payments system and the economic needs that these innovations satisfy. Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Digital currencies and fintech
January 20, 2021 Monetary Policy Report – January 2021 While a second wave of COVID-19 is hurting Canadians now, the economy should rebound strongly later in the year. The Bank is forecasting growth of around 4 percent this year and close to 5 percent in 2022. Content Type(s): Publications, Monetary Policy Report
Implications of New Accounting Standards for the Bank of Canada's Balance Sheet Staff Discussion Paper 2007-2 Mark Zelmer, Grahame Johnson The Canadian Institute of Chartered Accountants (CICA) has implemented new accounting standards for the valuation and reporting of financial instruments. They are effective for the Bank of Canada in 2007. As a result of these changes, the Bank has begun valuing its holdings of Government of Canada treasury bills on a fair value basis and […] Content Type(s): Staff research, Staff discussion papers Research Topic(s): Financial institutions, Monetary policy framework JEL Code(s): E, E5, E58, M, M4
December 17, 2001 The Canadian Fixed-Income Market: Recent Developments and Outlook Bank of Canada Review - Winter 2001–2002 Éric Chouinard, Zahir Lalani The Canadian fixed-income market is in the midst of a structural transformation similar to those occurring in other national financial markets around the world. The authors examine recent developments and trends in the market and discuss their possible effects. The simultaneous shrinking of the federal government's financial requirements and steady rise in issues of corporate securities have significantly altered the composition of Canada's fixed-income market. Government of Canada securities constitute a predominant portion of outstanding fixed-income securities and play a pivotal role, serving as benchmarks for the valuation of other traded securities and as a hedging vehicle for market participants trying to control their exposure to risk. The reduced issuance of federal government securities has contributed to a decline in the liquidity of the benchmark market. This raises broader issues regarding the future of the Canadian fixed-income market, since the corporate market is still fairly underdeveloped and illiquid compared with that for Government of Canada issues. There are thus currently few benchmark and hedging alternatives. The federal government is, however, committed to preserving the integrity of the market for benchmark issues and is adopting initiatives to enhance market liquidity and alleviate some of the pressures on the effective supply of these securities. Another evolving trend in the market is the emergence of electronic trading platforms. These platforms have the potential to facilitate the price-discovery mechanism, increase cost efficiency, and improve the liquidity and transparency of the market. Content Type(s): Publications, Bank of Canada Review articles Research Topic(s): Debt management, Financial markets
December 13, 2021 Opening statement by Tiff Macklem Opening statement Tiff Macklem National Press Theatre Ottawa, Ontario Governor Tiff Macklem discusses the renewed monetary policy framework agreed upon by the Government of Canada and the Bank of Canada. Content Type(s): Press, Speeches and appearances, Opening statements Research Topic(s): Inflation targets, Monetary policy communications, Monetary policy framework, Monetary policy implementation
June 21, 2009 Procyclicality and Value at Risk Financial System Review - June 2009 Peter Youngman Content Type(s): Publications, Financial System Review articles