September 19, 2024 Monetary policy decision-making: Behind the scenes Remarks Nicolas Vincent Chambre de commerce et industrie de Sherbrooke Sherbrooke, Quebec External Deputy Governor Nicolas Vincent gives a behind the scenes look at the rigorous research, analysis and debate that go into every monetary policy decision. Content Type(s): Press, Speeches and appearances Topic(s): Central bank research, Credibility, Economic models, Inflation and prices, Inflation targets, Monetary policy, Monetary policy and uncertainty, Monetary policy communications, Monetary policy framework, Monetary policy transmission
September 19, 2024 Getting to a monetary policy decision Speech summary Nicolas Vincent Chambre de commerce et industrie de Sherbrooke Sherbrooke, Quebec External Deputy Governor Nicolas Vincent gives a behind-the-scenes look at how the Bank of Canada’s Governing Council arrives at its monetary policy decisions. Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Central bank research, Credibility, Economic models, Inflation and prices, Inflation targets, Monetary policy, Monetary policy and uncertainty, Monetary policy communications, Monetary policy framework, Monetary policy transmission
Household Food Inflation in Canada Staff Working Paper 2024-33 Olena Kostyshyna, Maude Ouellet We study food inflation rates for Canadian households during periods of low and high inflation from 2012Q4 to 2023Q4. Households experienced more varied inflation rates during the recent high inflation. Cumulative food inflation has been 2.2 percentage points higher for lower-income households than for highest-income households since the inflation surge. Content Type(s): Staff research, Staff working papers Topic(s): Inflation and prices JEL Code(s): E, E2, E21, E3, E30, E31, L, L8, L81
August 27, 2024 How high productivity helps fight inflation Higher productivity helps keep prices down and wages up. It gives workers more money to spend and increases the value they get when they spend it. And it allows businesses to weather cost increases without having to raise prices. All together, these factors drive economic growth. Content Type(s): Publications, The Economy, Plain and Simple Topic(s): Inflation and prices, Productivity
Price Discounts and Cheapflation During the Post-Pandemic Inflation Surge Staff Working Paper 2024-31 Alberto Cavallo, Oleksiy Kryvtsov We study how price variation within a store changes with inflation, and whether households exploit these changes to reduce the burden of inflation. We find that price changes from discounts mitigated the inflation burden while cheapflation exacerbated it. Content Type(s): Staff research, Staff working papers Topic(s): Inflation and prices, Inflation: costs and benefits, Market structure and pricing JEL Code(s): E, E2, E21, E3, E30, E31, L, L8, L81
July 9, 2024 What drives up the price of groceries Weather, energy prices, and labour and import costs all contribute to higher grocery prices Content Type(s): Publications, The Economy, Plain and Simple Topic(s): Exchange rates, Inflation and prices, Inflation targets, Labour markets
The Output-Inflation Trade-off in Canada Staff Discussion Paper 2024-7 Stefano Gnocchi, Fanny McKellips, Rodrigo Sekkel, Laure Simon, Yinxi Xie, Yang Zhang We explain how the Bank of Canada’s policy models capture the trade-off between output and inflation in Canada. We provide new estimates of the trade-off and contrast them with those in the Bank’s macroeconomic models. Content Type(s): Staff research, Staff discussion papers Topic(s): Business fluctuations and cycles, Econometric and statistical methods, Inflation and prices, Monetary policy transmission JEL Code(s): E, E3, E31, E5, E52
June 19, 2024 What you pay for at the pump Kun Mo Several factors help set gasoline prices: the costs of crude oil, refining, transporting, retailing and marketing gas, as well as taxes. Content Type(s): Publications, The Economy, Plain and Simple Topic(s): Exchange rates, Inflation and prices, Market structure and pricing
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. Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Central bank research, Coronavirus disease (COVID-19), Credibility, Economic models, Financial stability, Inflation and prices, Inflation targets, Interest rates, Monetary policy, Monetary policy and uncertainty, Monetary policy communications, Recent economic and financial developments
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. Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Central bank research, Coronavirus disease (COVID-19), Credibility, Economic models, Financial stability, Inflation and prices, Inflation targets, Interest rates, Monetary policy, Monetary policy and uncertainty, Monetary policy communications, Recent economic and financial developments