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285 Results

February 6, 2025

Structural change, supply shocks and hard choices

Remarks (delivered virtually) Tiff Macklem Bank for International Settlements Mexico City, Mexico
In panel remarks, Governor Tiff Macklem highlights the challenges ahead and discusses the role of monetary policy in a world with more structural change and supply shocks.
January 16, 2025

Back to normal for the balance sheet

Speech summary Toni Gravelle VersaFi (formerly Women in Capital Markets) Toronto, Ontario
Deputy Governor Toni Gravelle provides an update on when quantitative tightening will end and explains how the Bank of Canada will manage its balance sheet going forward.
January 16, 2025

The end of quantitative tightening and what comes next

Remarks Toni Gravelle VersaFi (formerly Women in Capital Markets) Toronto, Ontario
Deputy Governor Toni Gravelle provides an update on when quantitative tightening will end and how the Bank of Canada will manage its balance sheet after that.

Using new loan data to better understand mortgage holders

Staff Analytical Note 2025-1 Odae Al Aboud, Saarah Sheikh, Adam Su, Yang Xu
The Bank of Canada is using an enhanced dataset that tracks the stock of outstanding mortgages and home equity lines of credit held by federally regulated lenders. This paper highlights some of the new details in the dataset and how they impact the Bank’s understanding of the mortgage market.

An Anatomy of Firms’ Political Speech

Staff Working Paper 2024-37 Pablo Ottonello, Wenting Song, Sebastian Sotelo
We study the distribution of political speech across U.S. firms. We develop a measure of political engagement based on firms’ communications (earning calls, regulatory filings, and social media) by training a large language model to identify statements that contain political opinions. Using these data, we document five facts about firms’ political engagement.

The reliance of Canadians on credit card debt as a predictor of financial stress

Staff Analytical Note 2024-18 Jia Qi Xiao
I analyze the relationship between carrying a credit card balance and future financial stress. I find that carrying a balance significantly increases the likelihood that credit card holders miss future debt payments. This likelihood tends to rise as credit card balances grow and are held for long periods.

Impacts of interest rate hikes on the consumption of households with a mortgage

We assess how much the recent rate-hike cycle has and will affect mortgage borrowers' consumption through its impacts on mortgage payments. Our analysis provides insights into the effects of changes in monetary policy on the consumption of mortgage borrowers.
June 13, 2024

Reviewing our pandemic actions

Speech summary Sharon Kozicki Canadian Association for Business Economics Ottawa, Ontario
Deputy Governor Sharon Kozicki talks about the importance of central bank transparency and accountability. She looks at the exceptional monetary policy measures the Bank of Canada used during the COVID-19 pandemic and analyzes their effectiveness.
June 13, 2024

Exceptional policies for an exceptional time: From quantitative easing to quantitative tightening

Remarks Sharon Kozicki Canadian Association of Business Economics Ottawa, Ontario
Deputy Governor Sharon Kozicki discusses the use of exceptional monetary policy tools during the COVID-19 pandemic, as well as the Bank’s commitment to transparency and accountability.
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