Posts

• May 20, 2025

  How to complete an incident notice: A step-by-step guide

  This guide explains the questions you will need to answer in PSP Connect and helps identify the documents and information you will need to complete and submit an incident notice to the Bank.

  Content Type(s): Retail payments supervision materials, Guides Research Topic(s): Reporting, Supervision
• May 9, 2025

  Release of the 2024 Bank of Canada FMI Oversight Activities Annual Report

  The Bank of Canada today published the Bank of Canada Oversight Activities for Financial Market Infrastructures 2024 Annual Report.

  Content Type(s): Press, Market notices

• Partial Identification of Heteroskedastic Structural Vector Autoregressions: Theory and Bayesian Inference

  Staff Working Paper 2025-14 Helmut Lütkepohl, Fei Shang, Luis Uzeda, Tomasz Woźniak

  We consider structural vector autoregressions that are identified through stochastic volatility. Our analysis focuses on whether a particular structural shock can be identified through heteroskedasticity without imposing any sign or exclusion restrictions.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods, Fiscal policy JEL Code(s): C, C1, C11, C12, C3, C32, E, E6, E62

• The Shift in Canadian Immigration Composition and its Effect on Wages

  Staff Discussion Paper 2025-8 Julien Champagne, Antoine Poulin-Moore, Mallory Long

  We document recent changes in Canadian immigration, marked by an increasing prevalence of temporary residency. Using microdata from Statistics Canada's Labour Force Survey, we show that temporary workers' characteristics and nominal wages have diverged from those of Canadian-born workers.

  Content Type(s): Staff research, Staff discussion papers Research Topic(s): Labour markets, Productivity JEL Code(s): J, J2, J20, J24, J6, J61

• A Fresh Look at the Publication and Citation Gap Between Men and Women: Insights from Economics and Political Science

  Staff Working Paper 2025-13 Daniel Stockemer, Gabriela Galassi, Engi Abou-El-Kheir

  In recent years, significant efforts have been made to attract more women into academia and to support their careers, with the goal of increasing their representation.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Labour markets JEL Code(s): A, A1, A14, I, I2, I23, J, J1, J16, J4, J44, J7, J71
• May 8, 2025

  Wall Street Journal

  

  Carolyn Rogers, Senior Deputy Governor of the Bank of Canada
  Interview with the Wall Street Journal

  Content Type(s): Press, Media activities

• Are Hedge Funds a Hedge for Increasing Government Debt Issuance?

  Staff Discussion Paper 2025-7 Adam Epp, Jeffrey Gao

  This paper studies the rapid increase since 2019 of Government of Canada (GoC) debt issuance alongside greater hedge fund participation at GoC bond auctions. We find a systematic relationship between GoC debt stock and hedge fund bidding shares at auction.

  Content Type(s): Staff research, Staff discussion papers Research Topic(s): Debt management, Financial institutions, Financial markets, Financial stability JEL Code(s): D, D4, D44, G, G1, G12, G2, G23, H, H6, H63
• May 8, 2025

  The Bank of Canada releases the 2025 Financial Stability Report

  The Financial Stability Report will be released on Thursday, May 8, 2025.

  Content Type(s): Press, Media advisories
• May 8, 2025

  Financial Stability Report—2025

  

  Tiff Macklem, Carolyn Rogers, Toni Gravelle, Sharon Kozicki, Rhys R. Mendes, Nicolas Vincent, Michelle Alexopoulos

  Canada’s financial system is resilient. Overall, households, businesses, banks and non-bank financial intermediaries successfully weathered the pandemic, a period of elevated inflation, and sharp increases in interest rates. But the trade war currently threatens the Canadian economy and poses risks to financial stability.

  Content Type(s): Publications, Financial Stability Report
• May 8, 2025

  Financial System Survey highlights—2025

  This article presents the key results from the 2025 Bank of Canada Financial System Survey, conducted between February 10 and 28. The survey included a special section on scenarios that could lead to a severe repricing in financial markets in the near term.

  Content Type(s): Publications, Financial System Survey