December 7, 2023 What population growth means for the economy and inflation Speech summary Toni Gravelle Windsor-Essex Regional Chamber of Commerce Windsor, Ontario Speaking a day after we decided to hold interest rates steady at 5%, Deputy Governor Toni Gravelle discusses immigration, inflation and the role that newcomers play in helping our economy grow. Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Domestic demand and components, Housing, Inflation and prices, Interest rates, Labour markets, Monetary policy, Potential output, Price stability, Recent economic and financial developments
November 22, 2023 Ending the pain of high inflation Remarks Tiff Macklem Saint John Region Chamber of Commerce Saint John, New Brunswick Bank of Canada Governor Tiff Macklem explains how high inflation is hurting Canadians and how monetary policy is working to bring inflation back to target. Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Inflation and prices, Inflation: costs and benefits, Interest rates, Labour markets, Monetary policy, Price stability
November 22, 2023 Fighting to get back to low inflation Speech summary Tiff Macklem Saint John Region Chamber of Commerce Saint John, New Brunswick Governor Tiff Macklem outlines how high inflation is hurting Canadians and how monetary policy is working to bring it down. He also explains why the Bank of Canada must stay the course in its inflation fight. Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Inflation and prices, Inflation: costs and benefits, Interest rates, Labour markets, Monetary policy, Price stability
Digitalization: Prices of Goods and Services Staff Discussion Paper 2023-27 Vivian Chu, Tatjana Dahlhaus, Christopher Hajzler This paper outlines and assesses the various channels through which digitalization can affect prices of goods and services. Content Type(s): Staff research, Staff discussion papers Topic(s): Digitalization, Inflation and prices, Market structure and pricing, Monetary policy JEL Code(s): D, D2, E, E3, E31, E5, E52, L, L1, L11
Variations in Pass-Through from Global Agricultural Commodity Prices to Domestic Food Inflation Staff Discussion Paper 2023-24 Daniel Hyun, Jacky Lee This paper examines factors that affect the transmission of fluctuations in global agricultural commodity prices to domestic food inflation. Content Type(s): Staff research, Staff discussion papers Topic(s): Inflation and prices, International topics JEL Code(s): E, E3, E31, Q, Q0, Q02, Q1, Q11, Q17, Q18
A Blueprint for the Fourth Generation of Bank of Canada Projection and Policy Analysis Models Staff Discussion Paper 2023-23 Donald Coletti The fourth generation of Bank of Canada projection and policy analysis models seeks to improve our understanding of inflation dynamics, the supply side of the economy and the underlying risks faced by policy-makers coming from uncertainty about how the economy functions. Content Type(s): Staff research, Staff discussion papers Topic(s): Economic models, Inflation and prices, Labour markets, Monetary policy and uncertainty JEL Code(s): C, C5, C50, C51, C52, C53, C54, C55
Labor Market Shocks and Monetary Policy Staff Working Paper 2023-52 Serdar Birinci, Fatih Karahan, Yusuf Mercan, Kurt See We develop a heterogeneous-agent New Keynesian model featuring a frictional labor market with on-the-job search to quantitatively study the positive and normative implications of employer-to-employer transitions for inflation. Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Inflation and prices, Labour markets, Monetary policy JEL Code(s): E, E1, E12, E2, E24, E5, E52, J, J3, J31, J6, J62, J64
October 3, 2023 How price setting influences inflation Speech summary Nicolas Vincent Chamber of Commerce of Metropolitan Montreal Montréal, Quebec Deputy Governor Nicolas Vincent talks about how companies set their prices, how those practices changed during the pandemic and why this remains a risk for inflation. Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Firm dynamics, Inflation and prices, Price stability
October 3, 2023 Understanding the unusual: How firms set prices during periods of high inflation Remarks Nicolas Vincent Chamber of Commerce of Metropolitan Montreal Montréal, Quebec Deputy Governor Nicolas Vincent discusses how firms set their prices and how pricing behaviour changed in our recent environment of high inflation. Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Firm dynamics, Inflation and prices, Price stability
September 19, 2023 Household differences and monetary policy Speech summary Sharon Kozicki University of Regina Regina, Saskatchewan Deputy Governor Sharon Kozicki talks about how differences in debt, income and savings across households shaped their experience through the COVID-19 pandemic and how this is affecting monetary policy now. Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Housing, Inflation and prices, Interest rates, Monetary policy transmission, Price stability