2025 Methods-of-Payment Survey Report: Cash in an Increasingly Digital and Mobile Economy Staff analytical paper 2026-36 Marie-Hélène Felt, Saika Pacouloute, Angelika Welte The 2025 Methods-of-Payment Survey provides insights into how Canadians pay for their day-to-day purchases and how they use cash (i.e. banknotes and coins). While contactless card payments dominate in-person transactions, most Canadians maintain favourable views on cash and still hold and use it. They are also increasingly adopting mobile payments. Content Type(s): Staff research, Staff analytical paper JEL Code(s): D, D8, D83, E, E4, E41 Research Theme(s): Money and payments, Cash and bank notes, Retail payments
October 15, 1998 The Canadian Experience with Targets for Inflation Control Remarks Gordon Thiessen Queen's University Kingston, Ontario As an economist who worked as a banker for most of his career, Douglas Gibson brought an interesting perspective to public policy issues, to the relationship between government and business, and to the contribution of outside economists to government policies. Content Type(s): Press, Speeches and appearances, Remarks
Liquidity Usage and Payment Delay Estimates of the New Canadian High Value Payments System Staff discussion paper 2020-9 Francisco Rivadeneyra, Nellie Zhang As part of modernizing its core payments infrastructure, Canada will replace the Large Value Transfer System (LVTS) with a new Real-Time Gross Settlement (RTGS) system called Lynx. An important question for policy-makers is how Lynx should be designed. Content Type(s): Staff research, Staff discussion papers JEL Code(s): C, C5, E, E4, E42, E5, E58 Research Theme(s): Financial markets and funds management, Funds management, Money and payments, Payment and financial market infrastructures
Potential output and the neutral rate in Canada: 2023 assessment Staff analytical note 2023-6 Julien Champagne, Christopher Hajzler, Dmitry Matveev, Harlee Melinchuk, Antoine Poulin-Moore, Galip Kemal Ozhan, Youngmin Park, Temel Taskin We expect that potential output growth will rebound from 1.4% in 2022 to 2.2% on average between 2023 and 2026. We revised down our estimates of growth over 2022–25 relative to the April 2022 assessment. The Canadian nominal neutral rate remains unchanged—in the range of 2% to 3%. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E2, E3, E4, E5 Research Theme(s): Monetary policy, Monetary policy framework and transmission, Real economy and forecasting, Structural challenges, Demographics and labour supply
Supporting the Transition to Net-Zero Emissions: The Evolving Role of Central Banks Staff discussion paper 2023-31 Karen McGuinness While climate change was largely tackled by government policies in the past, central banks are increasingly grappling with the risks climate change poses. They are evaluating their operational policies to reflect these risks and the transition to a net-zero economy. This paper explores the trade-offs and considerations central banks face. Content Type(s): Staff research, Staff discussion papers JEL Code(s): D, D5, D53, E, E5, E58, E6, E63, G, G3, G32, Q, Q5, Q54 Research Theme(s): Monetary policy, Monetary policy tools and implementation, Structural challenges, Climate change
April 2016 Annual Reassessment of Potential Output in Canada Staff analytical note 2016-4 Andrew Agopsowicz, Dany Brouillette, Shutao Cao, Natalia Kyui, Pierre St-Amant This note summarizes the Bank of Canada’s 2016 annual reassessment of potential output growth, which is projected to be 1.5 per cent over 2016–18 and 1.6 per cent in 2019–20. This projection is weaker than the one presented in the April 2015 Monetary Policy Report. Content Type(s): Staff research, Staff analytical notes Research Theme(s): Monetary policy, Real economy and forecasting, Structural challenges, Demographics and labour supply, Digitalization and productivity
Potential Output in Canada: 2018 Reassessment Staff analytical note 2018-10 Andrew Agopsowicz, Dany Brouillette, Bassirou Gueye, Julien McDonald-Guimond, Jeffrey Mollins, Youngmin Park This note summarizes the reassessment of potential output, conducted by the Bank of Canada for the April 2018 Monetary Policy Report. Overall, the profile for potential output growth is expected to remain flat at 1.8 per cent between 2018 and 2020 and 1.9 per cent in 2021. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E0, E00, E2, E22, E23, E24, E3, E37, E6 Research Theme(s): Monetary policy, Real economy and forecasting, Structural challenges, Demographics and labour supply, Digitalization and productivity
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
The Complex Adjustment of the Canadian Economy to Lower Commodity Prices Staff analytical note 2016-1 Julien Champagne, Nikita Perevalov, Hope Pioro, Dany Brouillette, Andrew Agopsowicz In this analytical note, we provide a comprehensive assessment of the complex structural adjustment facing the Canadian economy following the commodity price decline since mid-2014. We quantify separately the impacts coming from the commodity sector restructuring and the broader effect of significantly lower terms of trade. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E1, E17, E2, E27, E5, E52, J, J2, Q, Q0, Q00 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Real economy and forecasting, Structural challenges, International trade, finance and competitiveness
The 2021–22 Merchant Acceptance Survey Pilot Study Staff discussion paper 2023-1 Angelika Welte, Joy Wu The rise in digital payment innovations has spurred a discussion about the future of cash at the point of sale. The Bank conducted the 2021–22 Merchant Acceptance Survey Pilot Study to study trends in merchant cash acceptance and monitor conditions for the potential issuance of a central bank digital currency. Content Type(s): Staff research, Staff discussion papers JEL Code(s): C, C8, D, D2, D22, E, E4, L, L2 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Money and payments, Cash and bank notes, Digital assets and fintech, Retail payments