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96 Results

November 23, 2021

Checking up on Canada’s financial system

Speech summary Paul Beaudry Ontario Securities Commission Toronto, Ontario
Deputy Governor Paul Beaudry speaks about the strength and resilience of the financial system throughout the COVID-19 pandemic and economic recovery. He also outlines key vulnerabilities and risks going forward.
November 23, 2021

Financial stability through the pandemic and beyond

Remarks (delivered virtually) Paul Beaudry OSC Dialogue, Ontario Securities Commission Toronto, Ontario
Deputy Governor Paul Beaudry provides an update on financial vulnerabilities and risks in Canada, including those stemming from the COVID-19 pandemic.

The COVID-19 Consumption Game-Changer: Evidence from a Large-Scale Multi-Country Survey

A multi-country consumer survey investigates why and how much households decreased their consumption in five key sectors after pandemic-related restrictions were lifted in Europe in July 2020. Beyond infection risk and precautionary saving motives, households also reported not missing some consumption items, which may indicate preference shifts and structural changes in the post-COVID-19 economy.
November 16, 2021

Labour market uncertainties and monetary policy

Remarks (delivered virtually) Lawrence L. Schembri Canadian Association for Business Economics Toronto, Ontario
Deputy Governor Lawrence Schembri talks about changes to the labour market, and how the pandemic affected Canadian workers. He also discusses how the Bank is adapting labour market analysis tools to help guide monetary policy decisions that will support a more inclusive recovery.
November 16, 2021

Measuring changes to the labour market

Speech summary Lawrence L. Schembri Canadian Association for Business Economics Toronto, Ontario
Deputy Governor Lawrence Schembri discusses how the Canadian labour market has changed during the pandemic. He explains why better tools to measure the health of the job market will help the Bank of Canada set monetary policy that supports the recovery.

What Can Stockouts Tell Us About Inflation? Evidence from Online Micro Data

Staff Working Paper 2021-52 Alberto Cavallo, Oleksiy Kryvtsov
Did supply disruptions and cost pressures play a role in rising inflation in 2020 during the COVID-19 pandemic? Using data collected from websites of large retailers in multiple sectors and countries, we show that shortages may indicate transitory inflationary pressures.

Assessing Labour Market Slack for Monetary Policy

Staff Discussion Paper 2021-15 Erik Ens, Laurence Savoie-Chabot, Kurt See, Shu Lin Wee
Measuring labour market slack is essential for central banks: without full employment in the economy, inflation will not stay close to target. We propose a comprehensive approach to assessing labour market slack that reflects the complexity and diversity of the labour market.
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.
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