May 8, 2025 Financial System Survey highlights—2025 This article presents the key results from the 2025 Bank of Canada Financial System Survey, conducted between February 10 and 28. The survey included a special section on scenarios that could lead to a severe repricing in financial markets in the near term. Content Type(s): Publications, Financial System Survey
Social Learning and Monetary Policy at the Effective Lower Bound Staff working paper 2020-2 Jasmina Arifovic, Alex Grimaud, Isabelle Salle, Gauthier Vermandel This research develops a model in which the economy is directly influenced by how pessimistic or optimistic economic agents are about the future. The agents may hold different views and update them as new economic data become available. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C8, C82, E, E3, E32, E5, E52 Research Theme(s): Models and tools, Economic models, Monetary policy, Inflation dynamics and pressures, Monetary policy framework and transmission, Monetary policy tools and implementation
September 4, 2024 Monetary Policy Decision Press Conference Opening Statement Opening statement Tiff Macklem Ottawa, Ontario Governor Tiff Macklem discusses key issues involved in the Governing Council’s deliberations about the policy rate decision. Content Type(s): Press, Speeches and appearances, Opening statements
May 1, 2003 Changes to the Bank of Canada Commodity Price Index (BCPI) Effective 15 May 2003 the following changes will be made to the Bank of Canada Commodity Price Index (BCPI). Content Type(s): Press, Announcements
April 16, 2025 Monetary Policy Report—April 2025—Risks Given the unprecedented shift in the direction of US trade policy, there is considerable uncertainty about how tariffs could impact the economy. The degree to which prices will rise and economic activity will weaken is unclear.
April 29, 2014 Research Update - April 2014 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
November 17, 2023 Quarterly Financial Report - Third Quarter 2023 Quarterly Financial Report - Third Quarter 2023 - For the period ended September 30, 2023 Content Type(s): Publications, Quarterly Financial Report
February 18, 2020 Methodology for calculating the Canadian Overnight Repo Rate Average (CORRA) The Canadian Overnight Repo Rate Average (CORRA) is a measure of the cost of overnight general collateral funding in Canadian dollars using Government of Canada (GoC) treasury bills and bonds as collateral for repurchase transactions (repos). This page describes its calculation methodology, publishing process and governance.
December 9, 1996 The Canadian market for zero-coupon bonds Bank of Canada Review - Winter 1996-1997 Miles Whittingham A conventional bond is a debt instrument consisting of a series of periodic coupon payments plus the repayment of the principal at maturity. As the name suggests, a zero-coupon bond has no coupon payments. It has only a single payment consisting of the repayment of the principal at maturity. The zero-coupon bond is sold at a discount and then redeemed for its face value at maturity. The return to the investor is the difference between the face value of the bond and its discounted purchase price. In this article, the author examines the investment characteristics of zero-coupon bonds. In particular, a type of zero-coupon bond known as a strip bond is discussed. A strip bond is created by stripping coupon payments from conventional bonds. The strip bond market in Canada has grown substantially since the late 1980s and is now an integral part of Canadian fixed-income markets. As well, the opportunity to trade in the strip bond market improves the liquidity and efficiency of Canadian fixed-income markets, thus helping to reduce the overall cost of borrowing to the government. Content Type(s): Publications, Bank of Canada Review articles