August 29, 2016 Quarterly Financial Report - Second Quarter 2016 Quarterly Financial Report - Second Quarter 2016 - For the period ended 30 June 2016 Content Type(s): Publications, Quarterly Financial Report
November 23, 2004 Real Return Bonds: Monetary Policy Credibility and Short-Term Inflation Forecasting Bank of Canada Review - Autumn 2004 Christopher Reid, Frédéric Dion, Ian Christensen The break-even inflation rate (BEIR) is calculated by comparing the yields on conventional and Real Return Bonds. Defined as the average rate of inflation that equates the expected returns on these two bonds, the BEIR has the potential to contain useful information about long-run inflation expectations. Yet the BEIR has been higher, on average, and more variable than survey measures of inflation expectations, which may be explained by the effects of premiums and distortions embedded in the BEIR. Because of the difficulty in accounting for these distortions, the BEIR should not be given a large weight as a measure of long-run inflation expectations at this time. However, as the Real Return Bond market continues to develop, the BEIR should become a more useful indicator of inflation expectations. At present, it demonstrates no clear advantage over survey measures and even past inflation rates in forecasting near-term inflation. Content Type(s): Publications, Bank of Canada Review articles
A Portfolio-Balance Model of Inflation and Yield Curve Determination Staff working paper 2020-6 Antonio Diez de los Rios How does the supply of nominal government debt affect the macroeconomy? To answer this question, we propose a portfolio-balance model of the yield curve in which inflation is determined through an interest rate rule. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E4, E43, E5, E52, G, G1, G12, H, H6, H63 Research Theme(s): Models and tools, Economic models, Monetary policy, Inflation dynamics and pressures, Monetary policy framework and transmission, Monetary policy tools and implementation
May 8, 2025 Release of the Financial Stability Report Opening statement Tiff Macklem, Carolyn Rogers Ottawa, Ontario Press conference following the release of the Financial Stability Report. Content Type(s): Press, Speeches and appearances, Opening statements Subject(s): Financial system, Financial markets, Financial stability, Funds management, Monetary policy, Economy/Economic growth
October 23, 2024 Bank of Canada reduces policy rate by 50 basis points to 3¾% Media Relations Ottawa, Ontario The Bank of Canada today reduced its target for the overnight rate to 3¾%, with the Bank Rate at 4% and the deposit rate at 3¾%. Content Type(s): Press, Press releases
April 23, 2003 Bank of Canada releases Monetary Policy Report Media Relations Ottawa, Ontario Since the October 2002 Monetary Policy Report, both core and total CPI inflation have been well above the 2 per cent inflation target. Content Type(s): Press, Press releases
July 17, 2001 Bank of Canada lowers key policy interest rate by 1/4 percentage point to 4 1/4 per cent Media Relations Ottawa, Ontario The Bank of Canada today announced that it is lowering its target for the overnight rate* by one-quarter of one percentage point to 4 1/4 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 4 1/2 per cent. Content Type(s): Press, Press releases
August 28, 2020 Quarterly Financial Report - Second Quarter 2020 Quarterly Financial Report - Second Quarter 2020 - For the period ended June 30, 2020 Content Type(s): Publications, Quarterly Financial Report
A Dynamic Factor Model for Nowcasting Canadian GDP Growth Staff working paper 2017-2 Tony Chernis, Rodrigo Sekkel This paper estimates a dynamic factor model (DFM) for nowcasting Canadian gross domestic product. The model is estimated with a mix of soft and hard indicators, and it features a high share of international data. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C3, C32, C38, C5, C53, E, E3, E37 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Monetary policy, Real economy and forecasting
February 16, 2022 Expecting the unexpected: Central bank decision making in turbulent times Remarks (delivered virtually) Timothy Lane School of Public Policy, University of Calgary Calgary, Alberta Bank of Canada Deputy Governor Tim Lane discusses how the Bank responds to uncertainty in turbulent times. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Monetary policy, Economy/Economic growth, Inflation, Inflation targeting framework