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.
April 15, 2004 Monetary Policy Report – April 2004 The Canadian economy continues to adjust to developments in the global economy. Content Type(s): Publications, Monetary Policy Report
Pricing behaviour and inflation during the COVID-19 pandemic: Insights from consumer prices microdata Staff analytical note 2024-6 Olga Bilyk, Mikael Khan, Olena Kostyshyna Using the microdata underlying the Canadian consumer price index, we study how often and by how much firms changed their prices during the COVID-19 pandemic. We find that the surge in inflation was mainly associated with retailers raising prices much more often than before. We also find that more recently, corporate price-setting behaviour appears to be approaching pre-pandemic norms. Content Type(s): Staff research, Staff analytical notes Research Topic(s): Firm dynamics, Inflation and prices, Recent economic and financial developments JEL Code(s): D, D2, D22, E, E3, E31, L, L1, L11 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Real economy and forecasting
October 9, 2025 Productivity’s competitive edge Remarks Carolyn Rogers Canadian Club Toronto Toronto, Ontario Senior Deputy Governor Carolyn Rogers discusses how productivity growth can boost Canada’s prosperity and resilience. She also outlines how upcoming financial sector reforms are designed to increase competition. Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Financial institutions, Financial services, Financial system regulation and policies, Firm dynamics, Productivity Subject(s): Financial system, Financial stability, Fintech, Monetary policy, Economic models, Economy/Economic growth
June 21, 2006 The Market for Financing of Infrastructure Projects through Public-Private Partnerships: Canadian Developments Financial System Review - June 2006 Elizabeth Woodman Content Type(s): Publications, Financial System Review articles
September 30, 2015 Changes to the Bank of Canada’s Framework for Financial Market Operations On 5 May, 2015, the Bank of Canada published a consultation paper outlining proposed changes to its framework for financial market operations. Interested parties were invited to provide comments, and the Bank also held a series of meetings with industry associations and other stakeholders. Summary of comments received Respondents were supportive of the overall direction […]
Explaining Unusual Cash Patterns in 2018 Staff analytical note 2019-22 Walter Engert, Ben Fung, Jozsef Molnar, Gradon Nicholls There was an unusually large decline of bank notes in circulation in October 2018. Some have argued that this was due to the legalization of cannabis in Canada in mid-October. Content Type(s): Staff research, Staff analytical notes Research Topic(s): Bank notes, Digital currencies and fintech, Financial services JEL Code(s): E, E4, E41, E42, E5, E58 Research Theme(s): Money and payments, Cash and bank notes
CORRA: Explaining the rise in volumes and resulting upward pressure Staff analytical note 2024-21 Boran Plong, Neil Maru On May 27, 2024, the settlement period for trading GoC bonds in the secondary market in Canada moved from two days to one. This shortened time for settling secondary cash bond trades caused CORRA volumes to rise significantly, and they have remained elevated since. This combined with the skew in demand for funding has pressured CORRA higher. We find no indications that any other factors are contributing to the most recent pressures on CORRA. Content Type(s): Staff research, Staff analytical notes Research Topic(s): Financial markets, Interest rates, Monetary policy implementation JEL Code(s): D, D4, D5, D53, E, E4, E43, E44, E5, E52, G, G1, G12 Research Theme(s): Financial markets and funds management, Market functioning, Monetary policy, Monetary policy tools and implementation
January 20, 2016 Monetary Policy Report Press Conference Opening Statement Opening statement Stephen S. Poloz Ottawa, Ontario 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 Research Topic(s): Inflation and prices, Interest rates, Monetary policy, Monetary policy implementation, Recent economic and financial developments, Regional economic developments Subject(s): Monetary policy, Economy/Economic growth, Inflation, Inflation targeting framework