Imperfect Banking Competition and Macroeconomic Volatility: A DSGE Framework Staff working paper 2021-12 Jiaqi Li How do banks adjust their loan rate markup in response to macroeconomic shocks? Content Type(s): Staff research, Staff working papers JEL Code(s): E, E3, E32, E4, E44, G, G2, G21, L, L1, L13 Research Theme(s): Financial system, Financial institutions and intermediation, Models and tools, Economic models, Monetary policy, Monetary policy framework and transmission
May 19, 2009 When the Unconventional Becomes Conventional: Monetary Policy in Extraordinary Times Remarks John Murray Global Interdependence Center Philadelphia, Pennsylvania The financial turbulence that began in the U.S. subprime-mortgage market in August 2007 reached maximum intensity towards the end of 2008, and enveloped the entire global economy. Strains that had previously been concentrated in a few major financial centers turned into a full-blown crisis, affecting both industrial and emerging-market economies through trade, financial, and confidence channels. Content Type(s): Press, Speeches and appearances, Remarks
June 25, 2026 Stakeholder views on the 2026 monetary policy framework renewal To help shape the renewal research agenda, the Bank engaged with private sector economists and academics in 2024. In 2025–26, the Bank consulted financial institutions and pension funds, business and employer associations, unions, think tanks, consumer groups and community organizations.
February 7, 2024 Summary of Governing Council deliberations: Fixed announcement date of January 24, 2024 This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on January 24, 2024. Content Type(s): Publications, Summary of deliberations
May 21, 2013 Canada Works Remarks Mark Carney Chambre de commerce du Montréal métropolitain (CCMM)/Board of Trade of Metropolitan Montreal Montréal, Quebec Bank of Canada Governor Mark Carney discusses the “cornerstones of Canada’s prosperity.” Content Type(s): Press, Speeches and appearances, Remarks
October 23, 2024 Monetary Policy Report Press Conference Opening Statement Opening statement Tiff Macklem Ottawa, Ontario Governor Tiff Macklem discusses the Monetary Policy Report and the key issues involved in the Governing Council’s deliberations about the monetary policy decision. Content Type(s): Press, Speeches and appearances, Opening statements
How Do Central Bank Projections and Forward Guidance Influence Private-Sector Forecasts? Staff working paper 2018-2 Monica Jain, Christopher S. Sutherland We construct a 23-country panel data set to consider the effect of central bank projections and forward guidance on private-sector forecast disagreement. We find that central bank projections and forward guidance matter mainly for private-sector forecast disagreement surrounding upcoming policy rate decisions and matter less for private-sector macroeconomic forecasts. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D8, D83, E, E3, E37, E5, E52, E58 Research Theme(s): Models and tools, Economic models, Monetary policy, Monetary policy framework and transmission, Monetary policy tools and implementation, Real economy and forecasting
February 21, 2025 Tariffs, structural change and monetary policy Remarks Tiff Macklem Mississauga Board of Trade-Oakville Chamber of Commerce Mississauga, Ontario Governor Tiff Macklem discusses the potential impact of a trade conflict with the United States. He also launches the review of the Bank’s monetary policy framework. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Monetary policy, Economic models, Economy/Economic growth, Inflation, Inflation targeting framework
October 26, 2009 Monetary Policy Report – October 2009 Recent indicators point to the start of a global recovery from a deep, synchronous recession. Content Type(s): Publications, Monetary Policy Report
April 10, 2024 Monetary Policy Report Press Conference Opening Statement Opening statement Tiff Macklem Governor Tiff Macklem discusses the Monetary Policy Report and the key issues involved in the Governing Council’s deliberations about the policy rate decision. Content Type(s): Press, Speeches and appearances, Opening statements