July 23, 2009 Monetary Policy Report – July 2009 The global economy has suffered an intense, synchronous recession and considerable excess supply has opened up. Content Type(s): Publications, Monetary Policy Report
ToTEM III: The Bank of Canada’s Main DSGE Model for Projection and Policy Analysis Technical report No. 119 Paul Corrigan, Hélène Desgagnés, José Dorich, Vadym Lepetyuk, Wataru Miyamoto, Yang Zhang 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. Content Type(s): Staff research, Technical reports JEL Code(s): E, E1, E17, E2, E20, E3, E30, E4, E40, E5, E50, E6, E62, E65, F, F4, F40, F41, G, G5, G51 Research Theme(s): Models and tools, Economic models, Monetary policy, Monetary policy framework and transmission, Real economy and forecasting
March 30, 1995 Uncertainty and the Transmission of Monetary Policy in Canada Lecture Gordon Thiessen York University, Glendon College Toronto, Ontario Just over seven years ago, my predecessor, John Crow, delivered the Hanson Memorial Lecture at the University of Alberta. In it, he discussed a number of issues relating to the conduct of Canadian monetary policy, including the goal of monetary policy, the transmission mechanism, the use of monetary aggregates as policy guides, financial market uncertainty, and the role of the exchange rate Content Type(s): Press, Speeches and appearances, Lectures
May 9, 1996 The role of inventory management in Canadian economic fluctuations Bank of Canada Review - Spring 1996 Hung-Hay Lau Swings in inventory investment have traditionally played a major role in Canadian business cycles. However, advances in inventory-control techniques and the reduced uncertainty associated with lower inflation have enabled firms to manage their inventories much more tightly and effectively. This article examines recent developments in the management of non-farm business inventories in Canada at both the aggregate and the sectoral level and looks at implications for the role of inventories as a source of economic fluctuation. Content Type(s): Publications, Bank of Canada Review articles
July 17, 2013 Monetary Policy Report – July 2013 Following growth of 1.7 per cent in 2012, the Canadian economy is expected to grow by 1.8 per cent in 2013 and 2.7 percent in 2014 and 2015, and to reach full capacity in mid-2015, as anticipated in the April Report. Content Type(s): Publications, Monetary Policy Report
February 8, 2016 Monetary Policy and Financial Stability—Looking for the Right Tools Remarks Timothy Lane HEC Montréal Montréal, Quebec Deputy Governor Tim Lane discusses the links between monetary policy and financial stability. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Financial system, Financial stability, Monetary policy, Economic models, Inflation, Inflation targeting framework
May 8, 2025 Financial Stability Report—2025 Tiff Macklem, Carolyn Rogers, Toni Gravelle, Sharon Kozicki, Rhys R. Mendes, Nicolas Vincent, Michelle Alexopoulos Canada’s financial system is resilient. Overall, households, businesses, banks and non-bank financial intermediaries successfully weathered the pandemic, a period of elevated inflation, and sharp increases in interest rates. But the trade war currently threatens the Canadian economy and poses risks to financial stability. Content Type(s): Publications, Financial Stability Report
June 26, 2001 Canada's Monetary Policy Approach: It Works for Canadians Remarks David Dodge Edmonton Chamber of Commerce Edmonton, Alberta The Bank of Canada's commitment is to contribute to the economic well-being of Canadians. This means conducting monetary policy so that it fosters sustained economic growth - by creating conditions that favour rising output, employment, and incomes, and a stable macroeconomic environment. Content Type(s): Press, Speeches and appearances, Remarks
Assessing the Impact of Demand Shocks on the US Term Premium Staff discussion paper 2018-7 Russell Barnett, Konrad Zmitrowicz During and after the Great Recession of 2008–09, conventional monetary policy in the United States and many other advanced economies was constrained by the effective lower bound (ELB) on nominal interest rates. Several central banks implemented large-scale asset purchase (LSAP) programs, more commonly known as quantitative easing or QE, to provide additional monetary stimulus. Content Type(s): Staff research, Staff discussion papers JEL Code(s): E, E4, E43, E5, E52, E58, E6, E61, E65, G, G1, G12 Research Theme(s): Financial markets and funds management, Market functioning, Monetary policy, Monetary policy framework and transmission, Monetary policy tools and implementation
Sluggish Forecasts Staff working paper 2018-39 Monica Jain Given the influence that agents’ expectations have on key macroeconomic variables, it is surprising that very few papers have tried to extrapolate agents’ “true” expectations directly from the data. This paper presents one such approach, starting with the hypothesis that there is sluggishness in inflation and real GDP growth forecasts. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E3, E31, E37 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Monetary policy, Inflation dynamics and pressures, Real economy and forecasting