Interest rates

• October 6, 2022

  What’s happening to inflation and why it matters

  Remarks Tiff Macklem Halifax Chamber of Commerce Halifax, Nova Scotia

  Governor Tiff Macklem discusses how inflation has evolved in recent months and explains what the Bank is watching as it takes action to return inflation to target.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Central bank research, Coronavirus disease (COVID-19), Domestic demand and components, Expectations, Inflation and prices, Inflation: costs and benefits, Interest rates, Labour markets, Monetary policy, Monetary policy and uncertainty, Price stability, Recent economic and financial developments, Service sector
• October 6, 2022

  Restoring price stability for all Canadians

  Speech summary Tiff Macklem Halifax Chamber of Commerce Halifax, Nova Scotia

  Governor Tiff Macklem explains how inflation in Canada reflects more and more what’s happening with domestic demand and what the Bank is watching as it works to bring inflation back to the 2% target.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Central bank research, Coronavirus disease (COVID-19), Domestic demand and components, Expectations, Inflation and prices, Inflation: costs and benefits, Interest rates, Labour markets, Monetary policy, Monetary policy and uncertainty, Price stability, Recent economic and financial developments, Service sector

• House Price Responses to Monetary Policy Surprises: Evidence from the U.S. Listings Data

  Staff Working Paper 2022-39 Denis Gorea, Oleksiy Kryvtsov, Marianna Kudlyak

  Existing literature documents that house prices respond to monetary policy surprises with a significant delay, taking years to reach their peak response. We present new evidence of a much faster response.

  Content Type(s): Staff research, Staff working papers Topic(s): Housing, Inflation and prices, Interest rates, Monetary policy transmission JEL Code(s): E, E5, E52, R, R2, R21, R3, R31
• September 8, 2022

  Getting inflation back to normal

  Speech summary Carolyn Rogers Calgary Economic Development Calgary, Alberta

  Speaking a day after the Bank of Canada raised interest rates, Senior Deputy Governor Carolyn Rogers discusses where the economy stands and what the Bank is doing to get inflation back under control.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Domestic demand and components, Expectations, Inflation and prices, Interest rates
• September 8, 2022

  Economic progress report: Restoring price stability

  Remarks Carolyn Rogers Calgary Economic Development Calgary, Alberta

  Senior Deputy Governor Carolyn Rogers provides an economic update and discusses why the Bank is raising rates fast to tackle high inflation.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Domestic demand and components, Expectations, Inflation and prices, Interest rates
• June 2, 2022

  Economic progress report: Navigating a high inflation environment

  Remarks (delivered virtually) Paul Beaudry Gatineau Chamber of Commerce Gatineau, Quebec

  Bank of Canada Deputy Governor Paul Beaudry talks about the Bank’s latest interest rate announcement and the importance of keeping inflation expectations well anchored to prevent high inflation from becoming entrenched.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Credibility, Expectations, Inflation and prices, Inflation targets, Interest rates, Monetary policy, Monetary policy and uncertainty, Monetary policy implementation, Price stability, Recent economic and financial developments
• June 2, 2022

  Navigating high inflation

  Speech summary Paul Beaudry Gatineau Chamber of Commerce Gatineau, Quebec

  On June 1, the Bank of Canada decided to increase its policy interest rate by half a percentage point. Speaking the next day, Deputy Governor Paul Beaudry explains why inflation has been higher than expected and what we are doing to get it back to our 2% target.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Credibility, Expectations, Inflation and prices, Inflation targets, Interest rates, Monetary policy, Monetary policy and uncertainty, Monetary policy implementation, Price stability, Recent economic and financial developments
• May 12, 2022

  The perfect storm

  Remarks Toni Gravelle Association des économistes québécois Montréal, Quebec

  Deputy Governor Toni Gravelle discusses the commodity price shock and its implications for the Canadian economy and monetary policy.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Coronavirus disease (COVID-19), Domestic demand and components, Exchange rates, Expectations, Inflation and prices, Inflation: costs and benefits, Interest rates, International topics, Labour markets, Monetary policy, Monetary policy and uncertainty, Monetary policy communications, Recent economic and financial developments
• May 12, 2022

  How commodity prices affect our economy

  Speech summary Toni Gravelle Association des économistes québécois Montréal, Quebec

  Deputy Governor Toni Gravelle talks about the spike in commodity prices over the past two years, the impact on inflation and how the Bank of Canada is responding.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Coronavirus disease (COVID-19), Domestic demand and components, Exchange rates, Expectations, Inflation and prices, Inflation: costs and benefits, Interest rates, International topics, Labour markets, Monetary policy, Monetary policy and uncertainty, Monetary policy communications, Recent economic and financial developments

• Expectation-Driven Term Structure of Equity and Bond Yields

  Staff Working Paper 2022-21 Ming Zeng, Guihai Zhao

  Recent findings on the term structure of equity and bond yields pose serious challenges to existing models of equilibrium asset pricing. This paper presents a new equilibrium model of subjective expectations to explain the joint historical dynamics of equity and bond yields (and their yield spreads).

  Content Type(s): Staff research, Staff working papers Topic(s): Asset pricing, Financial markets, Interest rates JEL Code(s): E, E4, E43, G, G0, G00, G1, G12