October 6, 2016 Both progress and setbacks as economy adjusts, says Senior Deputy Governor Wilkins Media Relations Trois-Rivières, Quebec The Canadian economy is undergoing important, complex adjustments following the drop in oil prices over the past two years and in the context of the longer trends of population aging and modest productivity growth, Senior Deputy Governor Carolyn Wilkins said today. Content Type(s): Press, Press releases
June 9, 2005 How the Canadian Economy Is Adjusting to Global Forces Remarks David Dodge Canadian Chamber of Commerce in Japan Tokyo, Japan Rapid growth in emerging-market economies is driving up demand for commodities, and that has pushed up world prices for oil and many non-energy commodities. Meanwhile, productivity improvements in some countries and a competitive world environment are lowering the prices for some consumer goods, communications services, and computer equipment. Content Type(s): Press, Speeches and appearances, Remarks
May 13, 1998 Monetary Policy Report – May 1998 Canada’s inflation-control targets establish a specific medium-term objective for monetary policy. Content Type(s): Publications, Monetary Policy Report
An Improved Equation for Predicting Canadian Non-Commodity Exports Staff discussion paper 2017-1 Patrick Alexander, Jean-Philippe Cayen, Alex Proulx We estimate two new equations for Canadian non-commodity exports (NCX) that incorporate three important changes relative to the current equation used at the Bank of Canada. Content Type(s): Staff research, Staff discussion papers JEL Code(s): F, F1, F10, F14, F17 Research Theme(s): Models and tools, Economic models, Monetary policy, Real economy and forecasting, Structural challenges, International trade, finance and competitiveness
December 11, 1996 The impact of exchange rate movements on consumer prices Bank of Canada Review - Winter 1996-1997 Thérèse Laflèche In the first, mostly theoretical, part of this article, the author analyses the factors that affect the pass-through of exchange rate movements to consumer prices. In the second part, she studies the recent Canadian experience in this area, starting from 1992. The analysis in the first part of the article is used to investigate why the depreciation of the Canadian dollar by almost 20 per cent between 1992 and 1994 did not produce as much of an increase in the inflation rate as predicted by conventional estimates of the exchange rate pass-through. The author first explains this phenomenon using the factors described in the theoretical part of the article: demand conditions, the costs of adjusting prices, and expectations about the depreciation's duration. She then examines the role of more specific factors, such as the abolition of customs duties on trade between Canada and the United States and the restructuring of the retail market. It is clear that the latter two factors helped neutralize the effect of the depreciation on prices. Content Type(s): Publications, Bank of Canada Review articles
December 31, 2023 Quarterly Research Update – 2023 Q4 This 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
GDP by Industry in Real Time: Are Revisions Well Behaved? Staff analytical note 2018-40 Patrick Rizzetto The monthly data for real gross domestic product (GDP) by industry are used extensively in real time both to ground the Bank of Canada’s monitoring of economic activity and in the Bank’s nowcasting tools, making these data one of the most important high-frequency time series for Canadian nowcasting. Content Type(s): Staff research, Staff analytical notes JEL Code(s): C, C5, C53, C8, C82, E, E0, E01 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Monetary policy, Real economy and forecasting
May 30, 2006 Opening Statement before the House of Commons Standing Committee on Industry, Science and Technology Opening statement David Dodge House of Commons Standing Committee on Industry, Science and Technology The Bank of Canada Act calls on us to "mitigate … fluctuations in the general level of production, trade, prices and employment, so far as may be possible within the scope of monetary action, and generally to promote the economic and financial welfare of Canada." Over time, it has become clear that the best way for us to fulfill this mandate is to keep inflation low, stable, and predictable. Content Type(s): Press, Speeches and appearances, Opening statements
April 18, 2017 Embrace automation and manage its side effects, says Senior Deputy Governor Wilkins Media Relations Toronto, Ontario Automation, artificial intelligence and other innovations will benefit the Canadian economy by boosting productivity and living standards, but they could also have less desirable side effects on the labour market and income distribution that will have to be managed, Bank of Canada Senior Deputy Governor Carolyn A. Wilkins said today. Content Type(s): Press, Press releases
Transition Scenarios for Analyzing Climate-Related Financial Risk Staff discussion paper 2022-1 Y.-H. Henry Chen, Erik Ens, Olivier Gervais, Hossein Hosseini Jebeli, Craig Johnston, Serdar Kabaca, Miguel Molico, Sergey Paltsev, Alex Proulx, Argyn Toktamyssov Climate transition scenarios clarify climate-related risks to our economy and financial system. This paper summarizes key results of Canada-relevant scenarios developed in a pilot project on climate risk by the Bank of Canada and the Office of the Superintendent of Financial Institutions. Content Type(s): Staff research, Staff discussion papers JEL Code(s): C, C6, C68, D, D5, D58, E, E5, E50, O, O4, O44, P, P1, P18, Q, Q5, Q54 Research Theme(s): Financial system, Financial stability and systemic risk, Models and tools, Economic models, Structural challenges, Climate change