September 27, 2017 Monetary policy data dependent given unknowns in inflation outlook, Bank of Canada Governor Poloz says Media Relations St. John's, Newfoundland and Labrador The Bank of Canada’s approach to monetary policy has become particularly data dependent, because of significant unknowns around the inflation outlook as the Canadian economy nears its potential, Governor Stephen S. Poloz said today. Content Type(s): Press, Press releases
Exploring the drivers of the real term premium in Canada Staff analytical note 2025-3 Zabi Tarshi, Gitanjali Kumar Changes in the term premium can reflect uncertainty about inflation, growth and monetary policy. Understanding the key factors that influence the term premium is important when central banks make decisions about monetary policy. In this paper, we derive the real term premium from the nominal term premium in Canada. Content Type(s): Staff research, Staff analytical notes JEL Code(s): C, C5, C58, E, E4, E43, E47, G, G1, G12 Research Theme(s): Financial markets and funds management, Market functioning, Monetary policy, Monetary policy framework and transmission
October 20, 2025 Canadian Survey of Consumer Expectations—Third Quarter of 2025 Results of the third-quarter 2025 survey show that tariffs and trade tensions continue to affect consumers' perceptions about their financial health and spending plans. The CSCE indicator rose modestly from its most recent low, improved by slight gains in financial health and household spending intentions. But perceptions of labour market conditions deteriorated further, driven in part by a sharp drop in job-finding prospects for public sector workers. Consumers’ short-term inflation expectations remain above their pre-pandemic averages, and expectations for longer-term inflation have picked up again. Content Type(s): Publications, Canadian Survey of Consumer Expectations
November 16, 2016 Follow the Money: A Canadian Perspective on Financial Globalization Remarks Timothy Lane Centre for International Governance Innovation (CIGI) Waterloo, Ontario Deputy Governor Timothy Lane discusses the benefits and challenges of international capital mobility. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Currency, Digital currency, Financial system, Financial markets, Financial stability, Monetary policy, Economy/Economic growth
Fire Sales and Liquidity Requirements Staff working paper 2024-18 Yuteng Cheng, Roberto Robatto We study liquidity requirements in a framework with fire sales. The framework nests three common pricing mechanisms and produces the same observables. Absent risk-sharing considerations, the equilibrium is efficient with cash-in-the-market pricing; a liquidity requirement is optimal with second-best-use pricing; and a liquidity ceiling (i.e., a cap on liquid assets) is optimal with adverse selection. Content Type(s): Staff research, Staff working papers JEL Code(s): G, G1, G12, G2, G23, G28 Research Theme(s): Financial markets and funds management, Market functioning, Financial system, Financial stability and systemic risk, Financial system regulation and oversight, Household and business credit
When parents co‑sign a mortgage to help their adult children buy their first home Sparks at Bank article Shaoteng Li Rising housing costs are leading to an increasing share of first-time homebuyers seeking financial support from their parents. Specifically, Canada has experienced a noticeable rise in instances of parents co-signing mortgages with their adult children. This practice allows buyers to purchase more expensive homes—but it can also make both parties vulnerable to financial disruptions. Content Type(s): Staff research, Sparks at Bank article Research Theme(s): Financial system, Financial stability and systemic risk, Household and business credit
Update on housing market imbalances and household indebtedness Staff analytical note 2021-4 Mikael Khan, Olga Bilyk, Matthew Ackman Exceptional strength in the housing market during the pandemic is underpinning Canada’s economic recovery. However, two key vulnerabilities—housing market imbalances and elevated household indebtedness—have intensified. Content Type(s): Staff research, Staff analytical notes JEL Code(s): D, D1, D14, D8, D84, E, E5, G, G2, G21, G28, R, R2, R21 Research Theme(s): Financial system, Financial stability and systemic risk, Household and business credit
October 31, 2017 Research Update - October 2017 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
March 8, 2018 Canada’s Economic Expansion: A Progress Report Remarks Timothy Lane Greater Vancouver Board of Trade Vancouver, British Columbia Deputy Governor Tim Lane discusses the issues that led Governing Council to hold the policy interest rate at 1.25 per cent in their March 7 decision. Content Type(s): Press, Speeches and appearances, Remarks
April 18, 2018 Monetary Policy Report Press Conference Opening Statement Opening statement Stephen S. Poloz, Carolyn A. Wilkins Governor Stephen S. Poloz discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR. Content Type(s): Press, Speeches and appearances, Opening statements