October 19, 2004 Bank of Canada raises overnight rate target by 1/4 percentage point to 2 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 2 1/2 per cent. The operating band for the overnight rate is correspondingly increased, and the Bank Rate is now 2 3/4 per cent. Content Type(s): Press, Press releases
April 29, 2022 The Bank of Canada Museum is reopening The Bank of Canada Museum will reopen on May 12, 2022, after being closed for the past two years due to the COVID-19 pandemic. Content Type(s): Press, Announcements
April 22, 2004 Research in Financial Services and Public Policy - Filling the Gaps Remarks David Dodge Conference on Financial Services and Public Policy Schulich School of Business at York University Toronto, Ontario For five years, the research program here at Schulich has helped to support and nurture a Canadian academic community focused on financial services. In doing so, the program has encouraged researchers to fill the gaps in our knowledge and help policy-makers and regulators to do a better job. After five years, it's useful to think back and recall the motivations for establishing this program in the first place. Content Type(s): Press, Speeches and appearances, Remarks
Which Model to Forecast the Target Rate? Staff working paper 2017-60 Bruno Feunou, Jean-Sébastien Fontaine, Jianjian Jin Specifications of the Federal Reserve target rate that have more realistic features mitigate in-sample over-fitting and are favored in the data. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E4, E43 Research Theme(s): Models and tools, Economic models, Monetary policy, Monetary policy framework and transmission, Real economy and forecasting
The Canadian Neutral Rate of Interest through the Lens of an Overlapping-Generations Model Staff discussion paper 2023-5 Martin Kuncl, Dmitry Matveev We use a small open economy model with overlapping generations to evaluate secular dynamics of the neutral rate in Canada from 1980 to 2018. We find that changes in both foreign and domestic factors resulted in a protracted decline in the neutral rate. Content Type(s): Staff research, Staff discussion papers JEL Code(s): E, E2, E21, E22, E4, E43, E5, E50, E52, E58, F, F4, F41 Research Theme(s): Models and tools, Economic models, Monetary policy, Monetary policy framework and transmission, Structural challenges, Demographics and labour supply
April 24, 2013 Opening Statement before the Senate Standing Committee on Banking, Trade and Commerce Opening statement Mark Carney Senate Standing Committee on Banking, Trade and Commerce Ottawa, Ontario Good afternoon. Tiff and I are pleased to be here with you today to discuss the April Monetary Policy Report, which the Bank published last week. Global economic growth has evolved broadly as anticipated in January. In the United States, the economic expansion is continuing at a modest pace, with gradually strengthening private demand partly […] Content Type(s): Press, Speeches and appearances, Opening statements
April 23, 2013 Opening Statement before the House of Commons Standing Committee on Finance Opening statement Mark Carney House of Commons Standing Committee on Finance Ottawa, Ontario Good morning. Tiff and I are pleased to be here with you today to discuss the April Monetary Policy Report, which the Bank published last week. Global economic growth has evolved broadly as anticipated in January. In the United States, the economic expansion is continuing at a modest pace, with gradually strengthening private demand partly […] Content Type(s): Press, Speeches and appearances, Opening statements
July 28, 2005 Bank of Canada Announces Appointment of Special Adviser Media Relations Ottawa, Ontario Mr. Little, who will join the Bank in September, is a recently retired journalist from the Globe and Mail, where he spent most of the past two decades writing about economics and public finance. Content Type(s): Press, Press releases