May 27, 2005 70 Years of Central Banking in Canada Remarks David Dodge Canadian Economics Association Hamilton, Ontario The Bank opened its doors on 11 March 1935, at the height of the Great Depression, and immediately faced enormous challenges. In meeting those challenges, the new Bank of Canada drew on the experience of other, established central banks. It received valuable guidance in functions such as the issuance of bank notes, managing foreign exchange reserves, and promoting financial stability. Content Type(s): Press, Speeches and appearances, Remarks
March 31, 2018 Research Update - March 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
Implementation and Effectiveness of Extended Monetary Policy Tools: Lessons from the Literature Staff discussion paper 2020-16 Grahame Johnson, Sharon Kozicki, Romanos Priftis, Lena Suchanek, Jonathan Witmer, Jing Yang This paper summarizes the literature on the performance of various extended monetary policy tools when conventional policy rates are constrained by the effective lower bound. We highlight issues that may arise when these tools are used by central banks of small open economies. Content Type(s): Staff research, Staff discussion papers JEL Code(s): E, E5, E52, E58, E6, E63 Research Theme(s): Monetary policy, Monetary policy framework and transmission, Monetary policy tools and implementation
June 13, 2024 Exceptional policies for an exceptional time: From quantitative easing to quantitative tightening Remarks Sharon Kozicki Canadian Association of Business Economics Ottawa, Ontario Deputy Governor Sharon Kozicki discusses the use of exceptional monetary policy tools during the COVID-19 pandemic, as well as the Bank’s commitment to transparency and accountability. Content Type(s): Press, Speeches and appearances, Remarks
January 21, 2010 Monetary Policy Report – January 2010 The global economic recovery is under way, supported by continued improvements in fi nancial conditions and stronger domestic demand growth in many emerging-market economies. Content Type(s): Publications, Monetary Policy Report
Channels of Transmission: How Mortgage Rates Affect House Prices and Rents in Canada Staff analytical paper 2026-2 Nishaad Rao, Tao Wang We use Canadian data to examine how monetary policy affects house prices and the consumer price index for rent through exogenous changes in the mortgage interest rates. It finds that the price and rent impacts operate through various channels and that these impacts vary by region. Content Type(s): Staff research, Staff analytical paper JEL Code(s): E, E3, E31, E5, E52, R, R2, R21 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Monetary policy framework and transmission
Narrative-Driven Fluctuations in Sentiment: Evidence Linking Traditional and Social Media Staff working paper 2023-23 Alistair Macaulay, Wenting Song News media present competing interpretations of what breaking news implies for the macroeconomy. Recent examples include news reporting on high inflation and yield curve inversions. Do these narratives shape macroeconomic sentiment? In this paper, we highlight the importance of narratives using evidence linking traditional media and social media. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D8, D84, E, E3, E32, E4, E43, E44, E5, G, G1 Research Theme(s): Financial markets and funds management, Market functioning, Models and tools, Economic models, Monetary policy, Inflation dynamics and pressures, Monetary policy framework and transmission
Endogenous Liquidity and Capital Reallocation Staff working paper 2022-27 Wei Cui, Randall Wright, Yu Zhu We study economies where firms acquire capital in primary markets then retrade it in secondary markets after information on idiosyncratic productivity arrives. Our secondary markets incorporate bilateral trade with search, bargaining and liquidity frictions. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E2, E22, E4, E44 Research Theme(s): Financial markets and funds management, Market functioning, Financial system, Household and business credit, Models and tools, Economic models, Monetary policy, Monetary policy framework and transmission
March 11, 1999 Then and now: the change in views on the role of monetary policy since the Porter Commission Lecture Gordon Thiessen C.D. Howe Institute Toronto, Ontario Tony Hampson made a number of outstanding contributions to Canadian public life as well as having a successful business career. Many in this audience will be familiar with the fact that for a number of years he was Chairman of the C.D. Howe Institute's Policy Analysis Committee. Content Type(s): Press, Speeches and appearances, Lectures
March 24, 2010 The Virtue of Productivity in a Wicked World Remarks Mark Carney Ottawa Economics Association Ottawa, Ontario It is either brave or foolhardy of the Ottawa Economics Association to organize another conference around Canada's perennial challenges of demographics, productivity, and potential growth. Content Type(s): Press, Speeches and appearances, Remarks