Posts

• November 6, 2018

  Research on the financial system

  Find our research on the financial system by keyword, author, content type, JEL code, topic or date of publication.
• November 5, 2018

  Making sense of financial markets worth the effort, Governor Poloz says

  Media Relations London, United Kingdom

  It can be a challenge for central banks to reconcile their views of the economy with signals from financial markets, but the effort is worthwhile, Bank of Canada Governor Stephen S. Poloz says in a speech today.

  Content Type(s): Press, Press releases
• November 5, 2018

  Making Sense of Markets

  Remarks Stephen S. Poloz Canada–UK Chamber of Commerce London, United Kingdom

  Governor Poloz discusses how the Bank uses financial market information in its monetary policy.

  Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Asset pricing, Financial markets, Interest rates, Monetary policy, Recent economic and financial developments

• Non-Performing Loans, Fiscal Costs and Credit Expansion in China

  Staff Working Paper 2018-53 Huixin Bi, Yongquan Cao, Wei Dong

  This paper studies how the credit expansion policy pursued by the Chinese government in an effort to stimulate its economy in the post-crisis period affects bank–firm loan contracts and the macroeconomy. We build a structural model with financial frictions in which the optimal loan contract reflects the trade-off between leverage and the probability of default.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Credit and credit aggregates, Fiscal policy, International topics JEL Code(s): E, E4, E44, E6, E62
• November 1, 2018

  Bank of Canada publishes staff economic projections for the first time

  Media Relations Ottawa, Ontario

  Today the Bank of Canada launched a digital database with more than 30 years of past staff economic projections of the Canadian economy.

  Content Type(s): Press, Press releases
• November 1, 2018

  2018 Bank of Canada Annual Conference: Inflation Targeting: Revisit! Revise it?

  Conference held on November 1 and 2, 2018.

  Content Type(s): Conferences and workshops
• October 31, 2018

  Research Update - October 2018

  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

• Evaluating the Bank of Canada Staff Economic Projections Using a New Database of Real-Time Data and Forecasts

  Staff Working Paper 2018-52 Julien Champagne, Guillaume Poulin-Bellisle, Rodrigo Sekkel

  We present a novel database of real-time data and forecasts from the Bank of Canada’s staff economic projections. We then provide a forecast evaluation for GDP growth and CPI inflation since 1982: we compare the staff forecasts with those from commonly used time-series models estimated with real-time data and with forecasts from other professional forecasters and provide standard bias tests.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods, Economic models, Inflation targets, Monetary policy JEL Code(s): C, C3, C32, E, E1, E17, E3, E37
• October 31, 2018

  Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce

  Opening statement Stephen S. Poloz Standing Senate Committee on Banking, Trade and Commerce Ottawa, Ontario

  Good afternoon, Mr. Chairman and committee members. Senior Deputy Governor Wilkins and I are pleased to be with you today to discuss the Bank’s Monetary Policy Report. At the time of our last appearance in April, our message was about the considerable economic progress that we had seen. We explained that after a lacklustre start […]

  Content Type(s): Press, Speeches and appearances, Opening statements Research Topic(s): Inflation and prices, Monetary policy, Monetary policy transmission, Recent economic and financial developments
• October 30, 2018

  Toward 2021: Outreach

  To seek input on the monetary policy framework, the Bank consulted thousands of Canadians and hosted and attended conferences.