November 22, 2022 Financial stability in times of uncertainty Remarks Carolyn Rogers Young Canadians in Finance Ottawa, Ontario Senior Deputy Governor Carolyn Rogers discusses the Bank’s work to monitor risks and vulnerabilities in Canada’s financial system and support greater financial stability. Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Financial stability, Housing, Inflation and prices, Recent economic and financial developments
November 22, 2022 Notes on the indicators of financial vulnerabilities Take an in-depth look at the indicators related to the financial vulnerabilities of elevated level of household indebtedness and high house prices.
Variable-rate mortgages with fixed payments: Examining trigger rates Staff Analytical Note 2022-19 Stephen Murchison, Maria teNyenhuis We estimate the share of variable-rate mortgages with fixed payments that reached the so-called trigger rate—the interest rate at which mortgage payments no longer cover the principal. Amid rising interest rates, this share was close to 50% at the end of October 2022 and could potentially reach 65% in 2023. Content Type(s): Staff research, Staff analytical notes Topic(s): Credit and credit aggregates, Financial institutions, Interest rates, Recent economic and financial developments JEL Code(s): D, D1, E, E4, E5, G, G2, G21
November 21, 2022 CARR Meeting (November 21, 2022) Content Type(s): Meetings Source(s): Canadian Alternative Reference Rate Working Group
Are Working Hours Complements in Production? Staff Working Paper 2022-47 Lin Shao, Faisal Sohail, Emircan Yurdagul Using Canadian matched employer-employee data, we show that working hours of different workers are gross complements in production rather than perfect substitutes, as is typically assumed by macroeconomic models of production. Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Labour markets JEL Code(s): E, E2, E23, J, J2, J22, J23, J3, J31
November 18, 2022 The Government of Canada announces the issuance of a Ukraine Sovereignty Bond To offer Canadians an opportunity to directly support Ukraine, the Government of Canada announced that it will issue a Ukraine Sovereignty Bond. The five-year, $500 million bond, denominated in Canadian dollars, will be issued in late November 2022. Content Type(s): Press, Market notices
Canada’s Beveridge curve and the outlook for the labour market Staff Analytical Note 2022-18 Alexander Lam Canada’s labour market is tight but beginning to ease. Unemployment will likely rise in turn, but the economy can avoid a recessionary surge given current conditions. Higher unemployment would nonetheless be material, especially for those directly impacted. Content Type(s): Staff research, Staff analytical notes Topic(s): Business fluctuations and cycles, Central bank research, Labour markets, Recent economic and financial developments JEL Code(s): E, E3, E32, J, J2, J20, J6, J63, J64
November 16, 2022 CFEC Meeting (November 16, 2022) CIBC Capital Markets Content Type(s): Meetings Source(s): Canadian Foreign Exchange Committee