Nicolas Vincent - Latest

• September 19, 2024

  Getting to a monetary policy decision

  Speech summary Nicolas Vincent Sherbrooke Chamber of Commerce and Industry Sherbrooke, Quebec

  External Deputy Governor Nicolas Vincent gives a behind-the-scenes look at how the Bank of Canada’s Governing Council arrives at its monetary policy decisions.

  Content Type(s): Press, Speeches and appearances, Speech summaries Subject(s): Monetary policy, Economy/Economic growth, Inflation targeting framework

• Housing Affordability and Parental Income Support

  Staff working paper 2024-28 Jason Allen, Kyra Carmichael, Robert Clark, Shaoteng Li, Nicolas Vincent

  In many countries, the cost of housing has greatly outpaced income growth, leading to a housing affordability crisis. Leveraging Canadian loan-level data and quasi-experimental variation in payment-to-income constraints, we document an increasing reliance of first-time homebuyers on financial help from their parents, through mortgage co-signing. We show that parental support can effectively relax borrowing constraints—potentially to riskier borrowers.

  Content Type(s): Staff research, Staff working papers JEL Code(s): D, D6, D64, E, E2, E21, E24, G, G1, G18, G5, G51 Research Theme(s): Financial system, Financial stability and systemic risk, Household and business credit
• May 9, 2024

  Financial Stability Report—2024

  

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

  Canada’s financial system remains resilient. Over the past year, households, businesses, banks and non-bank financial institutions have continued to proactively adjust to higher interest rates. But this adjustment is not yet over and continues to present risks to financial stability. Key risks include those related to debt serviceability and asset valuations.

  Content Type(s): Publications, Financial Stability Report
• October 3, 2023

  Speech: The Chamber of Commerce of Metropolitan Montreal

  

  

  Pricing practices and monetary policy — External Non-executive Deputy Governor Nicolas Vincent speaks before The Chamber of Commerce of Metropolitan Montreal. (08:40 (ET) approx.).

  Content Type(s): Press, Speeches and appearances, Webcasts
• October 3, 2023

  How price setting influences inflation

  Speech summary Nicolas Vincent Chamber of Commerce of Metropolitan Montreal Montréal, Quebec

  Deputy Governor Nicolas Vincent talks about how companies set their prices, how those practices changed during the pandemic and why this remains a risk for inflation.

  Content Type(s): Press, Speeches and appearances, Speech summaries Subject(s): Monetary policy, Economy/Economic growth, Inflation, Inflation targeting framework
• October 3, 2023

  Understanding the unusual: How firms set prices during periods of high inflation

  Remarks Nicolas Vincent Chamber of Commerce of Metropolitan Montreal Montréal, Quebec

  Deputy Governor Nicolas Vincent discusses how firms set their prices and how pricing behaviour changed in our recent environment of high inflation.

  Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Monetary policy, Economic models, Economy/Economic growth, Inflation, Inflation targeting framework
• May 18, 2023

  Financial System Review—2023

  

  Tiff Macklem, Carolyn Rogers, Paul Beaudry, Toni Gravelle, Sharon Kozicki, Nicolas Vincent

  The adjustment to higher interest rates is exposing vulnerabilities in the global financial system. Recent banking sector stresses serve as a reminder that risks can arise and spread quickly. Key areas of concern are bank funding, liquidity in fixed income markets, and households’ ability to service their debts. Other financial system concerns relate to cyber attacks, climate change and cryptoasset markets.

  Content Type(s): Publications, Financial Stability Report

• Debt-Relief Programs and Money Left on the Table: Evidence from Canada's Response to COVID-19

  Staff working paper 2021-13 Jason Allen, Robert Clark, Shaoteng Li, Nicolas Vincent

  During the COVID-19 pandemic, Canadian financial institutions offered debt-relief programs to help borrowers cope with job losses and economic insecurity. We consider the low take-up rates for these programs and suggest that to be effective, such programs must be visible and easy to use.

  Content Type(s): Staff research, Staff working papers JEL Code(s): G, G3, G31, H, H5 Research Theme(s): Financial system, Financial stability and systemic risk, Household and business credit, Monetary policy, Real economy and forecasting