November 23, 2020
Coronavirus disease (COVID-19)
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Concentration in the market of authorized participants of US fixed-income exchange-traded funds
We show that a small number of authorized participants (APs) actively create and redeem shares of US-listed fixed-income exchange-traded funds (FI-ETFs). In 2019, three APs performed 82 percent of gross creations and redemptions of FI-ETF shares. In contrast, the group of active APs for equity ETFs was much more diverse. -
November 12, 2020
Helping the economy after the COVID‑19 pandemic
The pandemic won’t last forever. Senior Deputy Governor Carolyn A. Wilkins talks about what the economy will need once we’re past the COVID-19 crisis. -
November 12, 2020
Exploring life after COVID-19: the far side of the moon
Senior Deputy Governor Carolyn A. Wilkins discusses what the economy will need once we’re past the COVID-19 crisis. -
Canadian stock market since COVID‑19: Why a V-shaped price recovery?
Between February 19 and March 23, 2020, the Canadian stock market plunged due to the severe economic impact of COVID-19. By the end of the summer, the stock market had already recovered a significant portion of its losses, leaving many asking if investors see the economy through rose-coloured glasses. Despite these concerns, we find that current market valuations for companies on the Toronto Stock Exchange align well, on average, with the declines in earning forecasts observed since the start of the year. We also find these market valuations are consistent with the discount rate returning to its pre-pandemic level. -
October 8, 2020
COVID‑19 and the financial system
Governor Tiff Macklem discusses financial risks from the COVID-19 pandemic that are affecting our economy and that could shape how well it recovers. He also talks about financial risks from climate change. -
October 8, 2020
From COVID to climate—the importance of risk management
Governor Tiff Macklem discusses the importance of financial risk management as Canada recovers from the pandemic, and as it deals with issues like climate change. -
September 10, 2020
Supporting growth and greater opportunity
Governor Tiff Macklem outlines how the COVID-19 recession has had an uneven impact on Canadians and discusses the Bank’s decision yesterday to leave the policy rate unchanged. -
September 10, 2020
Economic progress report: a very uneven recovery
Governor Tiff Macklem discusses the Bank’s latest interest rate announcement and explains the uneven impact that the COVID-19 pandemic is having on different sectors and people. -
August 27, 2020
The imperative for public engagement
Governor Tiff Macklem talks about the need for the Bank to be clear, relatable and understandable when it communicates with the public.