August 29, 2012 Quarterly Financial Report - Second Quarter 2012 Quarterly Financial Report - Second Quarter, 2012 - For the period ended 30 June 2012 Content Type(s): Publications, Quarterly Financial Report
July 20, 2011 Monetary Policy Report – July 2011 The Canadian economy is projected to expand by 2.8 per cent in 2011, 2.6 per cent in 2012, and 2.1 per cent in 2013, returning to capacity in the middle of 2012. Total CPI inflation is expected to return to the 2 per cent target by the middle of 2012. Content Type(s): Publications, Monetary Policy Report
October 25, 2005 Exports, Imports, and the Appreciation of the Canadian Dollar Bank of Canada Review - Autumn 2005 Richard Dion, Michel Laurence, Yi Zheng An objective assessment of the effects of the appreciation of the Canadian dollar in 2003 and 2004 on exports and imports requires a detailed review of the numerous other factors which may have been at play. Dion, Laurence, and Zheng discuss the influences that have affected Canada's international trade over the past two years, including exchange rate movements, global and sector-specific shocks, constraints on the domestic supply of a few products, and competition from emerging economies, most notably, China. The analysis is complemented with econometric models developed at the Bank which provide statistically valid estimates of the contribution of the Canadian-dollar appreciation to the recent developments in exports and imports. Content Type(s): Publications, Bank of Canada Review articles Topic(s): Balance of payments and components, Exchange rates, International topics
Household Risk Assessment Model Technical Report No. 106 Brian Peterson, Tom Roberts Household debt can be an important source of vulnerability to the financial system. This technical report describes the Household Risk Assessment Model (HRAM) that has been developed at the Bank of Canada to stress test household balance sheets at the individual level. Content Type(s): Staff research, Technical reports Topic(s): Financial stability, Housing, Sectoral balance sheet JEL Code(s): C, C0, C6, C63, C65, D, D0, D1, D14
May 11, 1998 The use of forward rate agreements in Canada Bank of Canada Review - Spring 1998 Jean-Yves Paquette, David Stréliski In this article, the authors identify forward rate agreements, or FRAs, as short-term interest rate guarantee instruments negotiated by two parties, one of which is typically a bank. In outlining the main features of FRAs, the authors contrast them with BAX contracts (futures contracts on bankers' acceptances that are negotiated through the Montreal Exchange). The article then describes how market participants use FRAs to cover short-term interest rate risk. The final section deals with the way the Bank of Canada uses information from the FRA market as an indicator of interest rate expectations. Econometric models used to retrieve information from FRA rates, as well as the underlying assumptions, are discussed in an appendix. Content Type(s): Publications, Bank of Canada Review articles Topic(s): Financial markets, Monetary and financial indicators
October 24, 2012 Monetary Policy Report – October 2012 The Bank projects that the economy will grow by 2.2 per cent in 2012, 2.3 per cent in 2013 and 2.4 per cent in 2014. The economy is expected to return to full capacity by the end of 2013. Content Type(s): Publications, Monetary Policy Report
May 9, 2024 Financial Stability Report—2024 Tiff Macklem, Carolyn Rogers, Toni Gravelle, Sharon Kozicki, Rhys R. Mendes, Nicolas Vincent Canada’s financial system remains resilient. Over the past year, households, businesses, banks and non-bank financial institutions have continued to proactively adjust to higher interest rates. But this adjustment is not yet over and continues to present risks to financial stability. Key risks include those related to debt serviceability and asset valuations. Content Type(s): Publications, Financial Stability Report
August 18, 2011 Introducing Multiple Interest rates in ToTEM Bank of Canada Review - Summer 2011 José Dorich, Rhys R. Mendes, Yang Zhang This article describes changes to the structure of ToTEM—the Bank of Canada’s main model for projection and policy analysis—that allow an independent role for long-term interest rates, as well as for the risk spreads that lead to differences in the interest rates faced by households, firms and the government. These changes broaden the range of policy questions that the model can address and improve its ability to explain data. The authors use the model to simulate the effects of shocks to the risk spreads on interest rates similar to those that occurred during the recent financial crisis. They also use the model to assess the macroeconomic impact of higher requirements for bank capital and liquidity. Content Type(s): Publications, Bank of Canada Review articles Topic(s): Economic models, Financial system regulation and policies, Interest rates
December 31, 2001 Summary of Government of Canada - Outstanding as at 31 December 2001 Content Type(s): Publications, Historical: Securities and loans
May 29, 2015 Quarterly Financial Report - First Quarter 2015 Quarterly Financial Report - First Quarter 2015 - For the period ended 31 March 2015 Content Type(s): Publications, Quarterly Financial Report