Is anyone surprised? The high-frequency impact of US and domestic macroeconomic data announcements on Canadian asset prices Staff Analytical Note 2025-10 Blake DeBruin Martos, Rodrigo Sekkel, Henry Stern, Xu Zhang Using almost two decades of detailed high-frequency data, we show how Canadian interest rates, the CAD/USD spot exchange rate, and stock market returns react to both US and domestic macro announcements. We find that Canadian macroeconomic announcements invoke greater responses in short-term yields, whereas US macroeconomic announcements play an increasingly important role in the yield movements of longer-term assets. Content Type(s): Staff research, Staff analytical notes Research Topic(s): Asset pricing, Exchange rates, Financial markets JEL Code(s): G, G1, G14, G15
March 13, 2025 Engaging with Canadians We have meaningful conversations with Canadians so we can make informed policy decisions. We also share knowledge and promote awareness of the Bank’s role in the economy.
March 13, 2025 Promoting economic literacy and education With accessible, relevant and clear information, we help Canadians understand how the economy works and the Bank’s role in it.
March 13, 2025 The Bank and you We strive to build strong relationships with Canadians and make economic topics accessible and understandable to all.
March 13, 2025 2025 Fellowship Program: Award recipient The Bank of Canada is pleased to announce the recipient of the Bank’s 2025 Governor’s Award.
March 12, 2025 Bank of Canada Media Interview – Reuters Tiff Macklem, Governor of the Bank of Canada, gave an interview to Reuters. Content Type(s): Press, Media advisories
March 12, 2025 Bank of Canada Media Interview – The Globe and Mail Tiff Macklem, Governor of the Bank of Canada, gave an interview to Mark Rendell of the Globe and Mail, which will be published online and in the newspaper. Content Type(s): Press, Media advisories