April 16, 2020 Opening Statement before the House of Commons Standing Committee on Finance Opening statement Stephen S. Poloz House of Commons Standing Committee on Finance Ottawa, Ontario Good afternoon, Mr. Chairman and committee members. Senior Deputy Governor Wilkins and I welcome the opportunity to appear before you to discuss the Bank’s policy actions in response to the coronavirus pandemic, as well as our Monetary Policy Report (MPR), which we published yesterday. The Canadian economy is experiencing a significant and rapid contraction. The […] Content Type(s): Press, Speeches and appearances, Opening statements Subject(s): Financial system, Financial markets, Monetary policy, Economy/Economic growth, Inflation targeting framework
June 15, 2005 Adjusting to Change Remarks David Dodge Winnipeg Chamber of Commerce Winnipeg, Manitoba Change is the central theme of my remarks today. First, I will talk about some of the changes that have taken place at the Bank of Canada over its 70-year history. Then, I'll talk about some of the changes that are currently taking place in the global economy, as well as how we see our economy - across Canada and right here in Manitoba - adjusting to these changes. Content Type(s): Press, Speeches and appearances, Remarks
January 29, 2025 Monetary Policy Report—January 2025—Risks The prospect of wide-ranging US import tariffs is the most important risk to the outlook. Given the fast-evolving situation and the high degree of uncertainty, the Bank has chosen not to include new tariffs in the projection.
March 18, 2014 Redefining the Limits to Growth Remarks Stephen S. Poloz Halifax Chamber of Commerce Halifax, Nova Scotia Bank of Canada Governor Stephen S. Poloz discusses the forces that are holding back economic growth in Canada and the world. Content Type(s): Press, Speeches and appearances, Remarks
August 21, 2002 Monetary Policy and Uncertainty Bank of Canada Review - Summer 2002 Paul Jenkins, David Longworth Central banks must cope with considerable uncertainty about what will happen in the economy when formulating monetary policy. This article describes the different types of uncertainty that arise and looks at examples of uncertainty that the Bank has recently encountered. It then reviews the strategies employed by the Bank to deal with this problem. The other articles in this special issue focus on three of these major strategies. Content Type(s): Publications, Bank of Canada Review articles
Has wage setting changed in Canada? Evidence from the pre-pandemic 2020 Wage-Setting Survey Staff analytical note 2022-10 David Amirault, Sarah Miller, Matthieu Verstraete Just before the pandemic began, the Bank of Canada conducted the 2020 Wage-Setting Survey. The goal was to explore the unusual trend of subdued wage growth in 2018 and 2019 despite a tightening in the labour market. Although this wage puzzle was beginning to resolve at the time of the survey, results highlight changes in several factors that may have important impacts on wage dynamics. Content Type(s): Staff research, Staff analytical notes JEL Code(s): J, J3, J31, J32, J33, J6, J63 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Structural challenges, Demographics and labour supply, Digitalization and productivity
October 30, 2012 Opening Statement before the House of Commons Standing Committee on Finance Opening statement Mark Carney House of Commons Standing Committee on Finance Ottawa, Ontario Good afternoon. Tiff and I are pleased to be here with you today to discuss the October Monetary Policy Report, which the Bank published last week. The global economy has unfolded broadly as the Bank projected in its July MPR. Growth has slowed in all major regions. The economic expansion in the United States is […] Content Type(s): Press, Speeches and appearances, Opening statements
November 2, 2011 Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce Opening statement Mark Carney Standing Senate Committee on Banking, Trade and Commerce Ottawa, Ontario Good afternoon. Tiff and I are pleased to be here with you today to discuss the October Monetary Policy Report, which the Bank published last week. The global economy has slowed markedly as several downside risks to the projection outlined in the Bank’s July MPR have been realized. Volatility has increased and there has been […] Content Type(s): Press, Speeches and appearances, Opening statements
April 12, 2017 Bank of Canada maintains overnight rate target at 1/2 per cent Media Relations Ottawa, Ontario The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent. Content Type(s): Press, Press releases
June 9, 2005 How the Canadian Economy Is Adjusting to Global Forces Remarks David Dodge Canadian Chamber of Commerce in Japan Tokyo, Japan Rapid growth in emerging-market economies is driving up demand for commodities, and that has pushed up world prices for oil and many non-energy commodities. Meanwhile, productivity improvements in some countries and a competitive world environment are lowering the prices for some consumer goods, communications services, and computer equipment. Content Type(s): Press, Speeches and appearances, Remarks