Should Central Banks Worry About Nonlinearities of their Large-Scale Macroeconomic Models? Staff working paper 2017-21 Vadym Lepetyuk, Lilia Maliar, Serguei Maliar How wrong could policymakers be when using linearized solutions to their macroeconomic models instead of nonlinear global solutions? Content Type(s): Staff research, Staff working papers JEL Code(s): C, C6, C61, C63, C68, E, E3, E31, E5, E52 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Economic models, Monetary policy, Monetary policy framework and transmission
March 28, 2014 Annual Report 2013 2013 proved to be a challenging year for the Bank of Canada. Inflation continued to drift below target, and the economy failed to move onto a more sustainable track. The 2013 Annual Report highlights key achievements over the year, describes the Bank’s corporate governance, and presents the financial statements in conjunction with Management’s Discussion and Analysis. Content Type(s): Publications, Annual Report
May 1, 2024 Opening Statement before the Standing Senate Committee on Banking, Commerce and the Economy Opening statement Tiff Macklem Standing Senate Committee on Banking, Commerce and the Economy Ottawa, Ontario Content Type(s): Press, Speeches and appearances, Opening statements
January 20, 2025 Business Outlook Survey—Fourth Quarter of 2024 Results from the Business Outlook Survey and the Business Leaders’ Pulse show that overall business conditions remain subdued, but firms are beginning to anticipate improvements in activity. Sales outlooks continue to show signs of improvement after a period of weakness. Yet many businesses still have spare capacity, which is reducing their need to expand. Firms expect cost growth, including wages, to soften further. Expectations for inflation moved slightly higher but remain within the Bank of Canada’s target range. Content Type(s): Publications, Business Outlook Survey
January 27, 2000 Accountability and Transparency in Canada's Monetary Policy Remarks Gordon Thiessen Metropolitan Halifax Chamber of Commerce Halifax, Nova Scotia Public sector institutions have been undergoing significant changes over the past decade. One of the most important changes has been the move to greater accountability. Public institutions are now required to be more open and to provide more information about their operations. Or, to use the word currently in vogue, to be more “transparent.” Content Type(s): Press, Speeches and appearances, Remarks
January 16, 2007 Bank of Canada keeps target for the overnight rate at 4 1/4 per cent Media Relations Ottawa, Ontario The Bank of Canada today announced that it is maintaining its target for the overnight rate at 4 1/4 per cent. Content Type(s): Press, Press releases
July 16, 2014 Monetary Policy Report – July 2014 Canadian real GDP growth is projected to average around 2 ¼ per cent during 2014-2016. Content Type(s): Publications, Monetary Policy Report
April 16, 2014 Bank of Canada maintains overnight rate target at 1 per cent Media Relations Ottawa, Ontario The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. Content Type(s): Press, Press releases
The Impact of a Trade War: Assessment of the Current Tariffs and Alternative Scenarios Staff analytical note 2019-20 Karyne B. Charbonneau This note uses Charbonneau and Landry’s (2018) framework to assess the direct impact of the current trade tensions on the Canadian and global economies, as well as possible implications if the conflict escalates further. Overall, my findings show that the estimated impact of current tariffs on real gross domestic product (GDP) remains relatively small, which is in line with the literature on gains from trade, but the impact on trade is much larger. Content Type(s): Staff research, Staff analytical notes JEL Code(s): F, F1, F11, F13, F14, F15, F5, F50, F6, F62, F68 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Real economy and forecasting, Structural challenges, International trade, finance and competitiveness
July 10, 2007 Bank of Canada raises overnight rate target by 1/4 percentage point to 4 1/2 per cent Media Relations Ottawa, Ontario The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 4 1/2 per cent. Content Type(s): Press, Press releases