Recent economic and financial developments

• April 30, 2020

  Teachable Moments from the Pandemic

  Remarks (delivered virtually) Stephen S. Poloz Ivey Business School London, Ontario

  Governor Stephen S. Poloz talks about the Bank of Canada’s response to the COVID-19 pandemic.

  Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Coronavirus disease (COVID-19), Financial stability, Monetary policy, Recent economic and financial developments
• April 16, 2020

  Opening Statement before the House of Commons Standing Committee on Finance

  Opening statement Stephen S. Poloz House of Commons Standing Committee on Finance Ottawa, Ontario

  Good afternoon, Mr. Chairman and committee members. Senior Deputy Governor Wilkins and I welcome the opportunity to appear before you to discuss the Bank’s policy actions in response to the coronavirus pandemic, as well as our Monetary Policy Report (MPR), which we published yesterday. The Canadian economy is experiencing a significant and rapid contraction. The […]

  Content Type(s): Press, Speeches and appearances, Opening statements Research Topic(s): Coronavirus disease (COVID-19), Inflation and prices, Monetary policy, Monetary policy transmission, Recent economic and financial developments

• The Effect of Oil Price Shocks on Asset Markets: Evidence from Oil Inventory News

  Staff Working Paper 2020-8 Ron Alquist, Reinhard Ellwanger, Jianjian Jin

  We quantify the reaction of U.S. equity, bond futures, and exchange rate returns to oil price shocks driven by oil inventory news.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Financial markets, Recent economic and financial developments JEL Code(s): D, D8, D83, E, E4, E44, G, G1, G14, G15, Q, Q4, Q41, Q43
• March 5, 2020

  Labour market is key to Canada’s resilience

  Speech summary Stephen S. Poloz Women in Capital Markets Toronto, Ontario

  Governor Stephen S. Poloz talks about how the labour market is a key source of resilience for Canada’s economy and reviews the Bank of Canada’s decision to lower interest rates. 

  Content Type(s): Press, Speeches and appearances, Speech summaries Research Topic(s): Coronavirus disease (COVID-19), Interest rates, Labour markets, Monetary policy, Recent economic and financial developments
• March 5, 2020

  Economic Progress Report: We All Have Work to Do

  Remarks Stephen S. Poloz Women in Capital Markets Toronto, Ontario

  Governor Stephen S. Poloz discusses the Bank’s latest interest rate announcement as well as Canada’s labour market—an important source of economic resilience.

  Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Coronavirus disease (COVID-19), Interest rates, Labour markets, Monetary policy, Recent economic and financial developments
• December 5, 2019

  Economic Progress Report: Charting Our Own Course

  Remarks Timothy Lane Ottawa Board of Trade Ottawa, Ontario

  Deputy Governor Timothy Lane talks about the different monetary policy paths taken by Canada and the United States over the last decade and reviews the Bank of Canada’s latest interest rate decision.

  Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Monetary policy, Monetary policy framework, Recent economic and financial developments
• December 5, 2019

  Canadian economy resilient despite global uncertainty

  Speech summary Timothy Lane Ottawa Board of Trade and Ottawa Business Journal Ottawa, Ontario

  Speaking a day after we decided to hold interest rates steady, Deputy Governor Timothy Lane explained that Canada’s economy remains resilient.

  Content Type(s): Press, Speeches and appearances, Speech summaries Research Topic(s): Monetary policy, Monetary policy framework, Recent economic and financial developments

• What Does Structural Analysis of the External Finance Premium Say About Financial Frictions?

  Staff Working Paper 2019-38 Jelena Zivanovic

  I use a structural vector autoregression (SVAR) with sign restrictions to provide conditional evidence on the behavior of the US external finance premium (EFP). The results indicate that the excess bond premium, a proxy for the EFP, reacts countercyclically to supply and monetary policy shocks and procyclically to demand shocks.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Economic models, Financial markets, Recent economic and financial developments JEL Code(s): E, E3, E32, E4, E44
• September 5, 2019

  Economic Progress Report: Inflation in Canada—Well Behaved and Well Controlled

  Remarks Lawrence L. Schembri Halifax Regional Chamber of Commerce Halifax, Nova Scotia

  Deputy Governor Lawrence Schembri discusses the Bank’s latest interest rate announcement and the behaviour of inflation in Canada.

  Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Inflation and prices, Inflation targets, Monetary policy, Monetary policy framework, Recent economic and financial developments
• September 5, 2019

  Canadian economy resilient even as global outlook worsens

  Speech summary Lawrence L. Schembri Halifax Chamber of Commerce Halifax, Nova Scotia

  Speaking a day after we decided to hold interest rates steady, Deputy Governor Lawrence Schembri discussed the key points Governing Council considered in their decision.

  Content Type(s): Press, Speeches and appearances, Speech summaries Research Topic(s): Inflation and prices, Inflation targets, Monetary policy, Monetary policy framework, Recent economic and financial developments