November 19, 2015 Bank of Canada Review - Autumn 2015 In this issue, Bank researchers discuss the muted recovery from the 2007–09 financial crisis and possible causes. There are also discussions about the Bank’s new Canadian survey of household expectations, measuring both durable goods and housing prices in the CPI and how regulatory changes may affect monetary policy operating frameworks. In the final article, improvements to the management of Canada’s foreign exchange reserves are introduced. Content Type(s): Publications, Bank of Canada Review
Pulse check: Measuring underlying inflation and its drivers Staff analytical note 2025-29 Luis Uzeda This note presents PULSE, a new measure of underlying inflation in Canada based on a dynamic factor model estimated on disaggregated inflation data. PULSE captures the persistent component of inflation and decomposes it into broad-based and sector-specific inflationary pressures. Content Type(s): Staff research, Staff analytical notes JEL Code(s): C, C5, C55, E, E3, E31, E5, E52 Research Theme(s): Financial system, Financial system regulation and oversight, Models and tools, Econometric, statistical and computational methods, Monetary policy, Inflation dynamics and pressures
Monetary Policy Transmission, Bank Market Power, and Wholesale Funding Reliance Staff working paper 2023-35 Amina Enkhbold I study how banking market concentration and reliance on wholesale funding affect monetary policy transmission to mortgage rates. I find that this transmission is imperfect and dampens the response of consumption, output, and housing prices. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E4, E44, E5, E52, G, G2, G21 Research Theme(s): Financial system, Financial institutions and intermediation, Household and business credit, Monetary policy, Monetary policy framework and transmission
Identifying Consumer-Welfare Changes when Online Search Platforms Change Their List of Search Results Staff working paper 2020-5 Ryan Martin Online shopping is often guided by search platforms. Consumers type keywords into query boxes, and search platforms deliver a list of products. Consumers' attention is limited, and exhaustive searches are often impractical. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C1, C14, D, D1, D11, D12, D6, D8, D83, L, L4, L40 Research Theme(s): Financial markets and funds management, Market structure, Models and tools, Econometric, statistical and computational methods
November 20, 2004 Monetary Policy and Uncertainty Bank of Canada Review - Autumn 2004 David Longworth Remarks by David Longworth, Deputy Governor of the Bank of Canada to the Canadian Association for Business Economics Content Type(s): Publications, Bank of Canada Review articles
June 11, 2015 Financial System Review - June 2015 The Reports section of the Financial System Review examines selected issues of relevance to the Canadian and global financial systems. The June 2015 issue features two reports summarizing recent work by Bank of Canada staff on specific financial sector policies. Content Type(s): Publications, Financial Stability Report
September 18, 2025 Making change—Accelerating payments innovation Remarks Ron Morrow CPA The One conference Ottawa, Ontario Ron Morrow, Executive Director of Payments, Supervision and Oversight, talks about innovations in the payments ecosystem. He also highlights the Bank’s new role as supervisor of payment service providers. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Currency, Digital currency, Financial system, Financial markets, Financial stability, Fintech, Retail payments
November 18, 2002 Promoting Canada's Economic and Financial Welfare Remarks David Dodge Calgary Chamber of Commerce Calgary, Alberta It's been a difficult year for many sectors of the Alberta economy. Certainly, the severe drought hurt many western farmers, and investment in the energy sector was held back by low oil and gas prices. In addition, the slump in the telecom sector has affected Calgary. Content Type(s): Press, Speeches and appearances, Remarks
The Sectoral Origins of Post-Pandemic Inflation Staff working paper 2025-37 Jan David Schneider This paper quantifies the contribution of sector-specific supply and demand shocks to personal consumption expenditure (PCE) inflation. It derives identification restrictions that are consistent with a large class of dynamic stochastic general equilibrium models with production networks. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C5, C50, E, E3, E31, E32 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Monetary policy, Inflation dynamics and pressures
Credit Card Minimum Payment Restrictions Staff working paper 2024-26 Jason Allen, Michael Boutros, Benedict Guttman-Kenney We study a government policy that restricts repayment choices with the aim of reducing credit card debt and estimate its effects by applying a difference-in-differences methodology to comprehensive credit-reporting data about Canadian consumers. We find the policy has trade-offs: reducing revolving debt comes at a cost of reducing credit access, and potentially increasing delinquency. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D1, D18, E, E2, E21, G, G2, G28, G5, G51 Research Theme(s): Financial system, Financial system regulation and oversight, Household and business credit