September 7, 2023 Speech by Tiff Macklem, Governor of the Bank of Canada On Thursday, September 7, 2023, Tiff Macklem, Governor of the Bank of Canada, will speak before the Calgary Chamber of Commerce. Content Type(s): Press, Media advisories
September 7, 2023 Economic progress report: Target in sight, but we’re not there yet Remarks Tiff Macklem Calgary Chamber of Commerce Calgary, Alberta Bank of Canada Governor Tiff Macklem talks about the Bank’s latest interest rate announcement and what’s happening with inflation beyond the headline numbers. He also discusses why the Bank’s 2% inflation target is the right one. Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Credibility, Domestic demand and components, Expectations, Firm dynamics, Inflation and prices, Inflation targets, Inflation: costs and benefits, Labour markets, Monetary policy, Monetary policy framework, Monetary policy transmission, Price stability, Recent economic and financial developments
September 6, 2023 Bank of Canada maintains policy rate, continues quantitative tightening Media Relations Ottawa, Ontario The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. Content Type(s): Press, Press releases
September 6, 2023 Bank of Canada Interest Rate Announcement On Wednesday, September 6, 2023, the Bank of Canada will announce its decision on the target for the overnight rate. A press release will provide a brief explanation of the decision. Content Type(s): Press, Media advisories
August 31, 2023 Bank of Canada launches the 2024 Fellowship Program awards The Bank of Canada is inviting Canadian universities to nominate exceptional academics for its 2024 Fellowship and Governor’s awards. Content Type(s): Press, Announcements Source(s): Fellowship Program
August 29, 2023 CARR finalizes the allowed uses for Term CORRA Today, the Canadian Alternative Reference Rate working group (CARR) finalized its guidance on the allowable use cases for Term CORRA. Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
August 28, 2023 Debt Management Strategy Consultations – 2024-25 The Department of Finance and the Bank of Canada are seeking the views of government securities distributors, institutional investors, and other interested parties on issues related to the design and operation of the Government of Canada’s domestic debt program for 2024-25 and beyond. Content Type(s): Press, Market notices
The Macroeconomic Effects of Debt Relief Policies During Recessions Staff Working Paper 2023-48 Soyoung Lee A large-scale reduction in mortgage principal can strengthen a recovery, support house prices and lower foreclosures. The nature of the intervention shapes its impact, which rests on how resources are redistributed across households. The availability of bankruptcy on unsecured debt changes the response to large-scale mortgage relief by reducing precautionary savings. Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Credit and credit aggregates, Debt management, Housing JEL Code(s): E, E2, E21, E3, E32, E6