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305 Results

June 18, 2020

Spending patterns in a pandemic

Speech summary Lawrence L. Schembri Greater Saskatoon Chamber of Commerce Saskatoon, Saskatchewan
Deputy Governor Lawrence Schembri explains how household spending has changed because of COVID-19 and discusses why the Bank expects the recovery to have two phases.
June 18, 2020

Living with limits: household behaviour in Canada in the time of COVID-19

Remarks (delivered virtually) Lawrence L. Schembri Greater Saskatoon Chamber of Commerce Saskatoon, Saskatchewan
Deputy Governor Lawrence Schembri explains how the COVID-19 pandemic has affected household spending and economic activity, and discusses what the recovery is expected to look like.
June 16, 2020

Opening Statement before the House of Commons Standing Committee on Finance

Opening statement Tiff Macklem House of Commons Standing Committee on Finance Ottawa, Ontario
Introduction Good afternoon, Chair and committee members. It is an honour for me to appear before you as the 10th Governor of the Bank of Canada. I look forward to working with parliamentarians over the next seven years through regular appearances before committees of the House and Senate. These are an important part of the […]

Household indebtedness risks in the wake of COVID‑19

Staff Analytical Note 2020-8 Olga Bilyk, Anson T. Y. Ho, Mikael Khan, Geneviève Vallée
COVID-19 presents challenges for indebted households. We assess these by drawing parallels between pandemics and natural disasters. Taking into account the financial health of the household sector when the pandemic began, we run model simulations to illustrate how payment deferrals and the labour market recovery will affect mortgage defaults.

Canadian Financial Stress and Macroeconomic Conditions

Staff Discussion Paper 2020-4 Thibaut Duprey
Severe disruptions in the financial markets, as observed during the 2008 global financial crisis or the COVID-19 pandemic, can impair the stability of the entire financial system and worsen macroeconomic downturns.
June 4, 2020

Supporting markets during the crisis

Speech summary Toni Gravelle Greater Sudbury Chamber of Commerce Sudbury, Ontario
Speaking a day after the Bank left the policy rate unchanged, Deputy Governor Toni Gravelle explains how efforts to keep financial markets functioning through the COVID-19 crisis will lay a solid foundation for economic recovery.
June 4, 2020

Economic progress report: keeping markets working

Remarks (delivered virtually) Toni Gravelle Greater Sudbury Chamber of Commerce Sudbury, Ontario
Deputy Governor Toni Gravelle discusses the Bank’s latest interest rate announcement and explains how efforts to keep financial markets functioning through the COVID-19 crisis will lay a solid foundation for economic recovery
May 26, 2020

Opening Statement before the Senate National Finance Committee

Opening statement Stephen S. Poloz Senate National Finance Committee Ottawa, Ontario
Good afternoon, Mr. Chairman and committee members. Senior Deputy Governor Wilkins and I welcome the opportunity to appear before you to discuss the Bank of Canada’s actions in response to the coronavirus pandemic. Since the pandemic began, the Bank has had two goals in mind. In the short term, we have been working to help […]
May 25, 2020

Dealing with extreme uncertainty

Speech summary Stephen S. Poloz University of Alberta’s Eric J. Hanson Memorial Lecture Edmonton, Alberta
In a lecture capping off his time as Governor, Stephen S. Poloz discusses how the Bank uses a risk management approach to deal with uncertainty about risks such as the ones associated with the COVID-19 pandemic.
May 25, 2020

Monetary policy in unknowable times

Lecture Stephen S. Poloz Eric J. Hanson Memorial Lecture University of Alberta Edmonton, Alberta
Governor Stephen S. Poloz discusses the evolution of the way the Bank takes a risk-management approach in the conduct of monetary policy, and what this implies for the recovery from the pandemic.
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