Markups, Pass-Through, and Firm Heterogeneity with Sequentially Mixed Search Staff working paper 2025-7 Alex Chernoff, Allen Head, Beverly Lapham Market power and pass-through of cost and demand shocks are studied in a market with free entry of heterogeneous firms and consumer mixed search. Equilibrium prices and markups are driven by variation in the elasticity of demand across firms. Improved conditions for buyers can either raise or lower market power. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D2, D21, D4, D43, E, E3, E31, L, L1, L11 Research Theme(s): Financial markets and funds management, Market functioning, Models and tools, Economic models, Monetary policy, Inflation dynamics and pressures
February 12, 2025 Release of the Bank of Canada’s summary of deliberations On Wednesday, February 12, 2025, the Bank of Canada will publish a summary of the deliberations that took place ahead of its interest rate decision on January 29, 2025. Content Type(s): Press, Media advisories
February 12, 2025 Summary of Governing Council deliberations: Fixed announcement date of January 29, 2025 This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on January 29, 2025. Content Type(s): Publications, Summary of deliberations
February 10, 2025 Market Participants Survey—Fourth Quarter of 2024 The Market Participants Survey results are based on questionnaire responses from about 30 financial market participants. Content Type(s): Publications, Market Participants Survey
February 7, 2025 Securities Lending of the Government’s Holdings of Canada Mortgage Bonds The Department of Finance and the Bank of Canada, in its role as the Government of Canada’s fiscal agent, are announcing the launch of securities lending of the government’s Canada Mortgage Bond (CMB) holdings, to support market well-functioning. Content Type(s): Press, Market notices Source(s): Canada Mortgage Bonds: Government purchases and holdings
February 6, 2025 Remarks by Tiff Macklem, Governor of the Bank of Canada On Thursday, February 6, 2025, Tiff Macklem, Governor of the Bank of Canada, will speak to the BIS Chapultepec Conference. Content Type(s): Press, Media advisories
Effects of macroprudential policy announcements on perceptions of systemic risks Staff analytical note 2025-4 Thibaut Duprey, Victoria Fernandes, Kerem Tuzcuoglu, Ruhani Walia We introduce a history of macroprudential policy (MPP) events in Canada since the 1980s. We document the short-run effects of MPP announcements on market-based measures of systemic risk and find that MPPs can influence the market’s perception of large banks’ resilience. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E5, E58, G, G2, G21, G28, G3, G32 Research Theme(s): Financial system, Financial stability and systemic risk, Financial system regulation and oversight