Assessing global potential output growth: April 2024 Staff Analytical Note 2024-10 Amor Aniss Benmoussa, Raheeb Dastagir, Eshini Ekanayake, Justin-Damien Guénette, Helen Lao, Jenna Rolland-Mills, Aidan Spencer, Lin Xiang This note presents the annual update of Bank of Canada staff estimates for growth in global potential output. These estimates serve as key inputs to the analysis supporting the April 2024 Monetary Policy Report. Content Type(s): Staff research, Staff analytical notes Topic(s): Potential output, Productivity JEL Code(s): E, E1, E2, F, F0, O, O4
Assessing the US and Canadian neutral rates: 2024 update Staff Analytical Note 2024-9 Frida Adjalala, Felipe Alves, Hélène Desgagnés, Wei Dong, Dmitry Matveev, Laure Simon We assess both the US and Canadian nominal neutral rates to be in the range of 2.25% to 3.25%, somewhat higher than the range of 2.0% to 3.0% in 2023. The assessed range is back to the level it was at in April 2019. Content Type(s): Staff research, Staff analytical notes Topic(s): Economic models, Interest rates, Monetary policy JEL Code(s): E, E4, E40, E43, E5, E50, E52, E58, F, F4, F41
Benchmarks for assessing labour market health: 2024 update Staff Analytical Note 2024-8 Erik Ens, Alexander Lam, Kurt See, Gabriela Galassi We assess the health of the Canadian labour market. We find that it has seen gradual but material easing since 2023, amid some signs of structural changes. Content Type(s): Staff research, Staff analytical notes Topic(s): Business fluctuations and cycles, Econometric and statistical methods, Labour markets, Monetary policy JEL Code(s): E, E2, J, J2, J3, J6
April 29, 2024 CARR Meeting (April 29, 2024) Content Type(s): Meetings Source(s): Canadian Alternative Reference Rate Working Group
The Neutral Interest Rate: Past, Present and Future Staff Discussion Paper 2024-3 Matteo Cacciatore, Bruno Feunou, Galip Kemal Ozhan The decline in safe real interest rates over the past three decades has reignited discussions on the neutral real interest rate, known as R*. We address the determinants and estimation methods of R*, as well as the factors influencing its decline and its future trajectory. Content Type(s): Staff research, Staff discussion papers Topic(s): Interest rates, Monetary policy, Monetary policy framework JEL Code(s): E, E4, E43, E5, E52, E6, E62
April 25, 2024 CFIF announces the establishment of the Collateral Infrastructure and Market Practices Advisory Group The Canadian Fixed-Income Forum today announced the establishment of the Collateral Infrastructure and Market Practices Advisory Group. Content Type(s): Press, Market notices Source(s): Collateral Infrastructure and Market Practices Advisory Group
April 25, 2024 Bank of Canada plans to re-introduce its securities lending program The Bank of Canada is planning to restart later this year its securities lending program (SLP) which is designed to support the liquidity of Government of Canada (GoC) securities markets. Content Type(s): Press, Market notices
April 24, 2024 Summary of Governing Council deliberations: Fixed announcement date of April 10, 2024 This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on April 10, 2024. Content Type(s): Publications, Summary of deliberations
April 24, 2024 Release of the Bank of Canada’s summary of deliberations On Wednesday, April 24, 2024, the Bank of Canada will publish a summary of the deliberations that took place ahead of its interest rate decision on April 10, 2024. Content Type(s): Press, Media advisories