Posts

• December 9, 2020

  Bank of Canada will maintain current level of policy rate until inflation objective is achieved, continues its quantitative easing program

  Media Relations Ottawa, Ontario

  The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent.

  Content Type(s): Press, Press releases

• 2020 US Neutral Rate Assessment

  Staff Discussion Paper 2020-12 James Bootsma, Thomas J. Carter, Xin Scott Chen, Christopher Hajzler, Argyn Toktamyssov

  This paper presents Bank of Canada staff’s current assessment of the US neutral rate, along with a newly developed set of models on which that assessment is based. The overall assessment is that the US neutral rate currently lies in a range of 1.75 to 2.75 percent.

  Content Type(s): Staff research, Staff discussion papers Research Topic(s): Economic models, Interest rates, Monetary policy JEL Code(s): E, E4, E40, E43, E5, E50, E52, E58, F, F4, F41
• December 1, 2020

  CFEC Meeting #103 (December 1, 2020)

  Conference call

  Content Type(s): Meetings Source(s): Canadian Foreign Exchange Committee
• November 30, 2020

  Summary of Comments – Fall 2020 Debt Management Strategy Consultations

  Today, the Fall 2020 Debt Management Strategy Consultations Summary is being published in conjunction with the release of the Government of Canada’s Fall Economic Statement 2020.

  Content Type(s): Press, Market notices
• November 30, 2020

  Operational details for upcoming secondary market purchases of Government of Canada securities (December 7-17)

  As previously announced, the Bank of Canada (the Bank) launched on April 1, 2020 a program to purchase Government of Canada securities in the secondary market – the Government Bond Purchase Program (GBPP).

  Content Type(s): Press, Market notices Source(s): Government of Canada Bond Purchase Program

• The Determinants of Consumers’ Inflation Expectations: Evidence from the US and Canada

  Staff Working Paper 2020-52 Charles Bellemare, Rolande Kpekou Tossou, Kevin Moran

  We compare the determinants of consumer inflation expectations in the US and Canada by analyzing two current surveys. We find that Canadian consumers rely more on professional forecasts and the history of actual inflation when forming their expectations, while US consumers rely more on their own lagged expectations.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Central bank research, Econometric and statistical methods, Inflation and prices, Inflation targets JEL Code(s): C, C3, C33, D, D8, D83, D84, E, E3, E31
• November 30, 2020

  Research Update - November 2020

  This monthly newsletter features the latest research publications by Bank of Canada economists including external publications and working papers published on the Bank of Canada’s website.

  Content Type(s): Staff research, Research newsletters

• The Heterogeneous Effects of COVID-19 on Canadian Household Consumption, Debt and Savings

  Staff Working Paper 2020-51 James (Jim) C. MacGee, Thomas Michael Pugh, Kurt See

  The impact of COVID-19 on Canadian households’ debt and unplanned savings varies by household income. Low-income and high-income households accrued unplanned savings, while middle-income households tended to accumulate more debt.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Business fluctuations and cycles, Coronavirus disease (COVID-19), Financial stability JEL Code(s): E, E2, E21, E24, G, G5, G51
• November 27, 2020

  Financial Markets’ Response to COVID-19 Policy Interventions

  Policy-makers reacted to the COVID-19 crisis through a variety of channels. This Systemic Risk Centre conference, co-organized with the Bank of Canada, focused on how financial markets responded to these policy initiatives and asked what we have learned for future interventions.

  Content Type(s): Conferences and workshops
• November 26, 2020

  Opening Statement before the House of Commons Standing Committee on Finance

  Opening statement Tiff Macklem House of Commons Standing Committee on Finance Ottawa, Ontario

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