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2188 Results

Redefining Financial Inclusion for a Digital Age: Implications for a Central Bank Digital Currency

We explore quantitative and qualitative information about Canadians who face barriers to making digital payments. We also consider the implications of ongoing digitalization for modern financial inclusion and a potential central bank digital currency.

Estimating the impacts on GDP of natural disasters in Canada

Staff analytical note 2025-5 Tatjana Dahlhaus, Thibaut Duprey, Craig Johnston
Extreme weather events contribute to increased volatility in both economic activity and prices, interfering with the assessment of the true underlying trends of the economy. With this in mind, we conduct a timely assessment of the impact of natural disasters on Canadian gross domestic product (GDP).

Sequencing Extended Monetary Policies at the Effective Lower Bound

In this analysis, we use simulations in the Bank of Canada’s projection model—the Terms-of-Trade Economic Model—to consider a suite of extended monetary policies to support the economy following the COVID-19 crisis.
May 23, 2004

Bank of Canada Review - Spring 2004

BoC Review - Spring 2004

Cover page

The Millennial Celebrations in Ancient Rome

The coins pictured on the cover range from approximately 20 to 35 mm in diameter and form part of the National Currency Collection, Bank of Canada.

Photography by Gord Carter, Ottawa

U.S. Macroeconomic News and Low-Frequency Changes in Small Open Economies’ Bond Yields

Using two complementary approaches, we investigate the importance of U.S. macroeconomic news in driving low-frequency fluctuations in the term structure of interest rates in Canada, Sweden and the United Kingdom. We find that U.S. macroeconomic news is particularly important to explain changes in the expectation components of the nominal, real and break-even inflation rates of small open economies.

Early Warning of Financial Stress Events: A Credit-Regime-Switching Approach

Staff working paper 2016-21 Fuchun Li, Hongyu Xiao
We propose an early warning model for predicting the likelihood of a financial stress event for a given future time, and examine whether credit plays an important role in the model as a non-linear propagator of shocks.

Measuring Systemic Risk Across Financial Market Infrastructures

Staff working paper 2016-10 Fuchun Li, Héctor Pérez Saiz
We measure systemic risk in the network of financial market infrastructures (FMIs) as the probability that two or more FMIs have a large credit risk exposure to the same FMI participant.
December 13, 2007

Central Bank Performance under Inflation Targeting

Gosselin examines and reports on the various factors that contribute to successful inflation targeting. Using a panel of 21 inflation-targeting countries over the period 1990Q1-2007Q2, Gosselin finds that the ability of central banks to hit their targets varies considerably. Some of these differences can be explained by exchange rate fluctuations, fiscal deficits, and differences in financial development. Others are explained by differences in the targeting framework itself and the manner in which it is implemented.

The Share of Systematic Variations in the Canadian Dollar—Part I

Staff analytical note 2016-15 Jean-Sébastien Fontaine, Guillaume Nolin
In this analytical note we show that the share of the systematic variations in the Canadian dollar has risen significantly in the past two decades. Systematic variations in the exchange rate are shared with other currencies. This parallels the equity market, where variations in the price of a given stock are shared with variations in the prices of other stocks.
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