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ToTEM III is the most recent generation of the Bank of Canada’s main dynamic stochastic general equilibrium model for projection and policy analysis. The model helps Bank staff tell clear and coherent stories about the Canadian economy’s current state and future evolution.

The Canadian economy continues to adjust to developments in the global economy.

In Canada, temporary workers account for 14 per cent of jobs in the non-farm business sector, are present in a range of industries, and account for 40 per cent of the total job reallocation. Yet most models of job reallocation abstract from temporary workers.

This paper reviews some recent developments in digital currency, focusing on platform-sponsored currencies such as Facebook Credits.

In the last half-year, the economic expansion in Canada has become well established, supported by low inflation, highly stimulative monetary conditions, and a strong U.S. economy.

At the time of last November’s Monetary Policy Report, two issues dominated the analysis: the global economic slowdown and the fallout from the September terrorist attacks.

Canada’s inflation-control targets establish a specific medium-term objective for monetary policy.

The global economy has shown greater strength than was anticipated at the time of the November Report.

Over the past year, Canada’s economy has outperformed the economies of virtually all the other major industrial countries.

There have been a number of significant economic and financial developments since the time of the July Monetary Policy Report Update.