February 29, 2016 Research Update - February 2016 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
How Do Mortgage Rate Resets Affect Consumer Spending and Debt Repayment? Evidence from Canadian Consumers Staff working paper 2020-18 Katya Kartashova, Xiaoqing Zhou We study the causal effect of mortgage rate changes on consumer spending, debt repayment and defaults during an expansionary and a contractionary monetary policy episode in Canada. We find asymmetric responses of consumer durable spending, deleveraging and defaults. These findings help us to understand household sector response to interest rate changes. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D1, D12, D14, E, E4, E43, E5, E52, G, G2, G21, R, R3, R31 Research Theme(s): Financial system, Household and business credit, Monetary policy, Monetary policy framework and transmission, Monetary policy tools and implementation, Real economy and forecasting
August 16, 2012 Measurement Bias in the Canadian Consumer Price Index: An Update Bank of Canada Review - Summer 2012 Patrick Sabourin The consumer price index (CPI) is the most commonly used measure to track changes in the overall level of prices. Since it departs from a true cost-of-living index, the CPI is subject to four types of measurement bias—commodity substitution, outlet substitution, new goods and quality adjustment. The author updates previous Bank of Canada estimates of measurement bias in the Canadian CPI by examining these four sources of potential bias. He finds the total measurement bias over the 2005–11 period to be about 0.5 percentage point per year, consistent with the Bank’s earlier findings. Slightly more than half of this bias is caused by the fixed nature of the CPI basket of goods and services. Content Type(s): Publications, Bank of Canada Review articles JEL Code(s): E, E3, E31, E5, E52
Should Banks Be Worried About Dividend Restrictions? Staff working paper 2023-49 Josef Schroth A regulator would want to restrict dividends to force banks to rebuild capital during a crisis. But such a policy is not time-consistent. A time-consistent policy would let banks gradually rebuild capital and pay dividends even when their equity remains below pre-crisis levels. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E1, E13, E3, E32, E4, E44 Research Theme(s): Financial system, Financial stability and systemic risk, Financial system regulation and oversight
March 23, 2017 Annual Report 2016 The Annual Report outlines the Bank’s activities and achievements in 2016. It includes the financial statements and a message from Governor Stephen S. Poloz. Content Type(s): Publications, Annual Report
May 24, 2017 Digital currencies and fintech: projects We are working on several technical projects designed to help us prepare for the future of money and payments.
February 20, 2025 Protecting yourself from scams Here’s how to recognize and report a scam. Content Type(s): Press, Announcements
April 2, 2019 Sustainability Educational Pamphlet A case study on the Head Office Renewal Project and its pursuit of a LEED® Certification.
March 2, 2026 Canada’s monetary policy framework in a world of supply-driven trade-offs Remarks Sharon Kozicki Norges Bank Monetary Policy Mandate Conference Oslo, Norway Deputy Governor Sharon Kozicki discusses the challenges of setting monetary policy in a world where supply-side developments are important drivers of inflation. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Monetary policy, Economic models, Economy/Economic growth, Inflation, Inflation targeting framework