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89 Results

September 24, 2021

Monitoring payment deferrals during the COVID-19 pandemic—update, July 2021

In the initial stages of the COVID-19 pandemic, Canada’s financial institutions allowed households to defer payments on a range of loans. With nearly all of these deferrals having expired, we provide a final update of how these loans have performed through to July 2021.

Payment Habits During COVID-19: Evidence from High-Frequency Transaction Data

Staff Working Paper 2021-43 Tatjana Dahlhaus, Angelika Welte
We examine how consumers have adjusted their payment habits during the COVID-19 pandemic. They seem to perform fewer transactions, spend more in each transaction, use less cash at the point of sale and withdraw cash from ATMs linked to their financial institution more often than from other ATMs.
September 9, 2021

Monetary policy as the recovery progresses

Speech summary Tiff Macklem Fédération des chambres de commerce du Québec Montréal, Quebec
Governor Tiff Macklem talks about the Bank of Canada’s decision yesterday to leave the policy rate unchanged. He also talks about how the Bank could adjust monetary policy once the economy needs less support.
September 9, 2021

Economic progress report: Monetary policy for the recovery

Remarks (delivered virtually) Tiff Macklem Fédération des chambres de commerce du Québec Montréal, Quebec
Bank of Canada Governor Tiff Macklem talks about the Bank’s latest interest rate announcement and discusses how the Bank could adjust monetary policy and its quantitative easing program as the recovery progresses.

Canadian job postings in digital sectors during COVID-19

Staff Analytical Note 2021-18 Alejandra Bellatin, Gabriela Galassi
Digital technologies have helped maintain economic activity while allowing people to remain physically distant throughout the COVID-19 crisis. This note shows that the number of online postings for jobs related to the production of digital technologies in Canada decreased less than the number for other jobs and recovered more quickly after lockdowns were lifted.

The uneven economic consequences of COVID 19: A structural analysis

Staff Analytical Note 2021-17 Martin Kuncl, Austin McWhirter, Alexander Ueberfeldt
Using a structural model, we study the economic consequences of the COVID-19 shock. The uneven consequences, such as higher unemployment among young households, amplify the negative implications for the macroeconomy, household vulnerabilities and consumption inequality. Government support programs have stimulated the economy and lowered inequality and medium-term vulnerabilities.

Cash and COVID-19: The impact of the second wave in Canada

The COVID-19 pandemic significantly increased the demand for cash. Cash in circulation increased sharply from March through December 2020, particularly in the early months of this period. Although use of electronic methods of payment also increased significantly, cash use for payments remains high for low-value transactions and among certain demographic groups.

Sequencing Extended Monetary Policies at the Effective Lower Bound

In this analysis, we use simulations in the Bank of Canada’s projection model—the Terms-of-Trade Economic Model—to consider a suite of extended monetary policies to support the economy following the COVID-19 crisis.
June 10, 2021

Going digital has helped the economy through COVID-19

Speech summary Timothy Lane Western Canadian Chapters of Advocis Edmonton, Alberta, Vancouver, British Columbia, Winnipeg, Manitoba
Deputy Governor Timothy Lane talks about the Bank’s decision yesterday to leave the policy rate unchanged. He also discusses how adopting digital technologies supported resilience during the COVID-19 pandemic.
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