Saving after Retirement and Preferences for Residual Wealth Staff Working Paper 2024-21 Giulio Fella, Martin B. Holm, Thomas Michael Pugh We estimate a model of households in Norway with bequest motives, health-dependent utility, and uncertain longevity and health. Our estimates imply strong bequest motives for households both with and without offspring. We interpret this as suggestive evidence that utility from residual wealth represents forces beyond an altruistic bequest motive. Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Fiscal policy, Housing, Labour markets JEL Code(s): D, D1, D11, D12, D14, E, E2, E21
June 10, 2024 CARR provides guidance for CDOR-based loans, derivatives and securities that do not have a robust fallback in place for CDOR’s cessation post June 28, 2024 The Canadian Alternative Reference Rate working group (CARR) is providing guidance to market participants with respect to CDOR-linked loans, derivatives and securities that do not have adequate fallback language to address the cessation of CDOR following the final publication by Refinitiv Benchmark Services (UK) Limited on June 28, 2024 (the “Cessation Date”). Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
June 5, 2024 Bank of Canada Media Interview – CBC News Tiff Macklem, Governor of the Bank of Canada, gave an interview to Peter Armstrong of CBC News. Content Type(s): Press, Media advisories
June 5, 2024 Bank of Canada Media Interview – TVA Tiff Macklem, Governor of the Bank of Canada, gave an interview to TVA Nouvelles’ Olivier Ferron-Boissé. Content Type(s): Press, Media advisories
June 5, 2024 Bank of Canada reduces policy rate by 25 basis points Media Relations Ottawa, Ontario The Bank of Canada today reduced its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is continuing its policy of balance sheet normalization. Content Type(s): Press, Press releases
June 5, 2024 Bank of Canada Interest Rate Announcement On Wednesday, June 5, 2024, the Bank of Canada will announce its decision on the target for the overnight rate. A press release will provide a brief explanation of the decision. Content Type(s): Press, Media advisories
June 5, 2024 Interest Rate Announcement 09:45 (ET) On eight scheduled dates each year, the Bank of Canada announces the setting for the overnight rate target in a press release explaining the factors behind the decision. Content Type(s): Upcoming events
June 5, 2024 Monetary Policy Decision Press Conference Opening Statement Opening statement Tiff Macklem Ottawa, Ontario Governor Tiff Macklem discusses key issues involved in the Governing Council’s deliberations about the policy rate decision. Content Type(s): Press, Speeches and appearances, Opening statements