Assessing global potential output growth and the US neutral rate: April 2023 Staff Analytical Note 2023-5 Salma Ahmed, Aviel Avshalumov, Tania Chaar, Eshini Ekanayake, Helen Lao, Louis Poirier, Jenna Rolland-Mills, Argyn Toktamyssov, Lin Xiang We expect global potential output growth to increase from 2.5% in 2022 to 2.8% by 2026. Compared with the April 2022 staff assessment, global potential output growth is marginally slower. The current range for the US neutral rate is 2% to 3%, unchanged from the last annual assessment. Content Type(s): Staff research, Staff analytical notes Topic(s): Interest rates, Monetary policy, Potential output, Productivity JEL Code(s): E, E1, E2, E4, E5, F, F0, O, O4
May 8, 2023 Bank of Canada Media Interview – La Presse Paul Beaudry, Deputy Governor of the Bank of Canada, gave an interview to Hélène Baril of La Presse on the launch of a public consultation on a potential digital dollar. Content Type(s): Press, Media advisories
May 8, 2023 Bank of Canada Media Interview – CBC News Carolyn Rogers, Senior Deputy Governor of the Bank of Canada, gave an interview to Peter Armstrong of CBC News on the public consultations on a potential digital dollar. Content Type(s): Press, Media advisories
May 8, 2023 Backgrounder on removing the past sales growth question from the Business Outlook Survey In the first quarter of 2023, Bank staff removed the question on past sales growth from the BOS questionnaire. This backgrounder outlines the reasons for the change and discusses its implications. Content Type(s): Background materials
May 8, 2023 CBC News Carolyn Rogers, Senior Deputy Governor of the Bank of CanadaInterview with CBC News Content Type(s): Press, Media activities
May 8, 2023 La Presse Paul Beaudry, Deputy Governor of the Bank of CanadaInterview with La Presse Content Type(s): Press, Media activities
May 8, 2023 Bank of Canada launches public consultations on a digital dollar Media Relations Ottawa, Ontario The Bank of Canada is launching an online public consultation on the features that could be included in a digital Canadian dollar. Content Type(s): Press, Press releases Topic(s): Digital currencies and fintech
May 4, 2023 Getting inflation back to 2% Speech summary Tiff Macklem Toronto Region Board of Trade Toronto, Ontario Governor Tiff Macklem explains that higher interest rates are working to slow inflation but warns that getting all the way back to the 2% target may take time. He also discusses the recent stress in the global banking sector and how financial stability and price stability work together. Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Expectations, Financial institutions, Financial stability, Financial system regulation and policies, Inflation and prices, Inflation targets, International financial markets, Monetary policy, Price stability, Service sector
May 4, 2023 Bank of Canada Media Interview – CBC Radio Tiff Macklem, Governor of the Bank of Canada, was interviewed on CBC’s radio show As It Happens. The program airs tonight at 18:30 (Eastern Time). Content Type(s): Press, Media advisories
How Banks Create Gridlock to Save Liquidity in Canada's Large Value Payment System Staff Working Paper 2023-26 Rodney J. Garratt, Zhentong Lu, Phoebe Tian We show how participants in Canada’s new high-value payment system save liquidity by exploiting the new gridlock resolution arrangement. The findings have important implications for the design of these systems and shed light on financial institutions’ liquidity preference. Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Payment clearing and settlement systems JEL Code(s): E, E4, E42, E5, E58, G, G2, G21