The Annual Economic Conference is the Bank of Canada’s flagship event, bringing together leading Canadian and international experts. This year’s conference takes place October 29 and 30, 2026.
The conference theme, “Global Financial Architecture in Transition: Navigating Currency Shifts, Debt Dynamics, and Digital Innovation,” explores how shifting currency dynamics, rising debt, and rapid digital innovation are reshaping the global financial architecture.
Program: Thursday, October 29
Opening remarks
08:50–09:00 (ET)
Deputy Governor Toni Gravelle (Bank of Canada)
Session 1: Vulnerabilities of U.S. Safe Assets
09:00–11:00 (ET)
Tariff War Shock and the Convenience Yield of U.S. Treasuries
- Presenter: Toomas Laarits (New York University)
- Discussant: Alexandra Tabova (Federal Reserve Board)
Decoupling Dollar and Treasury Privilege
- Presenter: Ritt Keerati (Federal Reserve Board)
- Discussant: Jason Choi (University of Toronto)
Unraveling the Cobweb of Global Imbalances: Drivers, Vulnerabilities, and Adjustment Scenarios
- Presenter: Kristin Forbes (MIT)
- Discussant: Giancarlo Corsetti (European University Institute)
John Kuszczak Memorial Lecture
11:30–12:30 (ET)
The Policy Implications of Pseudonymous Stablecoins
- Introduction: Deputy Governor Nicolas Vincent (Bank of Canada)
- Keynote: Gita Gopinath (Harvard University)
Session 2: Global Financial Intermediation
13:30–15:30 (ET)
Breaking Parity: Equilibrium Exchange Rates and Currency Risk Premia
- Presenter: Mai Chi Dao (International Monetary Fund)
- Discussant: Andreas Stathopoulos (UNC Kenan-Flagler Business School)
Financial Market Resilience to Intermediary Disruptions: Evidence from Global FX Funding
- Presenter: Amy Huber (University of Pennsylvania)
- Discussant: Ioana Neamtu (Federal Reserve Board)
Topography of the FX Derivatives Market: A View from London
- Presenter: Jenny Tang (Federal Reserve Bank of Boston)
- Discussant: Greg Bauer (University of Guelph)
Policy Panel: The Future of the International Monetary Financial System
16:00–17:00 (ET)
Moderator: Grahame Johnson (Bank of Canada)
- Kristin Forbes (MIT)
- Prasanna Gai (University of Auckland)
- David Wolf (Fidelity Investments Canada)
Program: Friday, October 30
Welcome back
08:55–09:00 (ET)
Session 3: Global Dollar Liquidity
09:00–10:30 (ET)
Does the Dollar Lender of Last Resort Expand Dollar Dominance?
- Presenter: Karen K. Lewis (University of Pennsylvania)
- Discussant: Walker Ray (Federal Reserve Bank of Chicago)
The Global Network of Liquidity Lines
- Presenter: Saleem Bahaj (University College London)
- Discussant: Sharon Kozicki (Bank of Canada)
Session 4: Geopolitics and Financial Markets
10:45–12:15 (ET)
Wars, Threats and the Sovereign Bond Market
- Presenter: Jonathan Federle (Kiel Institute for the World Economy)
- Discussant: Juan Carlos Hatchondo (University of Western Ontario)
Flight to Safety or Flight from Carry?
- Presenter: Edward Cuipa III (State Street)
- Discussant: Ingomar Krohn (Bank of Canada)
Closing remarks
12:15–12:30 (ET)
Stéphane Lavoie (Bank of Canada)
Content Type(s):
Conferences and workshops