June 8, 2023 Economic progress report: Are we entering a new era of higher interest rates? Remarks Paul Beaudry Greater Victoria Chamber of Commerce Victoria, British Columbia Deputy Governor Paul Beaudry discusses the latest interest rate decision and suggests reasons why longer-term interest rates could remain higher than they were before the pandemic. Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Central bank research, Coronavirus disease (COVID-19), Domestic demand and components, Expectations, Housing, Inflation and prices, Inflation targets, Interest rates, Labour markets, Monetary policy, Monetary policy transmission, Price stability, Recent economic and financial developments, Service sector
June 8, 2023 Adjusting to higher interest rates Speech summary Paul Beaudry Greater Victoria Chamber of Commerce Victoria, British Columbia Speaking a day after we raised interest rates, Deputy Governor Paul Beaudry talks about what Governing Council considered in its decision. He also suggests reasons why long-term interest rates could remain higher than they were before the COVID-19 pandemic. Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Central bank research, Coronavirus disease (COVID-19), Domestic demand and components, Expectations, Housing, Inflation and prices, Inflation targets, Interest rates, Labour markets, Monetary policy, Monetary policy transmission, Price stability, Recent economic and financial developments, Service sector
May 4, 2023 Getting inflation back to 2% Speech summary Tiff Macklem Toronto Region Board of Trade Toronto, Ontario Governor Tiff Macklem explains that higher interest rates are working to slow inflation but warns that getting all the way back to the 2% target may take time. He also discusses the recent stress in the global banking sector and how financial stability and price stability work together. Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Expectations, Financial institutions, Financial stability, Financial system regulation and policies, Inflation and prices, Inflation targets, International financial markets, Monetary policy, Price stability, Service sector
May 4, 2023 Staying the course to price stability Remarks Tiff Macklem Toronto Region Board of Trade Toronto, Ontario Governor Tiff Macklem explains how monetary policy is working to bring inflation down and outlines the challenges ahead. He also discusses recent stress in the global banking sector and how financial stability and price stability interact. Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Expectations, Financial institutions, Financial stability, Financial system regulation and policies, Inflation and prices, Inflation targets, International financial markets, Monetary policy, Price stability, Service sector
October 6, 2022 What’s happening to inflation and why it matters Remarks Tiff Macklem Halifax Chamber of Commerce Halifax, Nova Scotia Governor Tiff Macklem discusses how inflation has evolved in recent months and explains what the Bank is watching as it takes action to return inflation to target. Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Central bank research, Coronavirus disease (COVID-19), Domestic demand and components, Expectations, Inflation and prices, Inflation: costs and benefits, Interest rates, Labour markets, Monetary policy, Monetary policy and uncertainty, Price stability, Recent economic and financial developments, Service sector
October 6, 2022 Restoring price stability for all Canadians Speech summary Tiff Macklem Halifax Chamber of Commerce Halifax, Nova Scotia Governor Tiff Macklem explains how inflation in Canada reflects more and more what’s happening with domestic demand and what the Bank is watching as it works to bring inflation back to the 2% target. Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Central bank research, Coronavirus disease (COVID-19), Domestic demand and components, Expectations, Inflation and prices, Inflation: costs and benefits, Interest rates, Labour markets, Monetary policy, Monetary policy and uncertainty, Price stability, Recent economic and financial developments, Service sector
December 9, 2021 Keeping our eyes on inflation Speech summary Toni Gravelle Surrey Board of Trade Surrey, British Columbia Deputy Governor Toni Gravelle talks about the Bank of Canada’s decision yesterday to leave the policy rate unchanged. He explains the link between supply bottlenecks and high inflation and why the Bank thinks both will ease over time. Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Coronavirus disease (COVID-19), Domestic demand and components, Inflation and prices, Inflation targets, Interest rates, Monetary policy and uncertainty, Recent economic and financial developments, Service sector
December 9, 2021 Economic progress report: A recovery unlike any other Remarks (delivered virtually) Toni Gravelle Surrey Board of Trade Surrey, British Columbia Deputy Governor Toni Gravelle provides an economic update and discusses the relationship between supply bottlenecks and inflation. Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Coronavirus disease (COVID-19), Domestic demand and components, Inflation and prices, Inflation targets, Interest rates, Monetary policy and uncertainty, Recent economic and financial developments, Service sector
Measuring the Effectiveness of Salespeople: Evidence from a Cold-Drink Market Staff Working Paper 2021-40 Haofeng Jin, Zhentong Lu Salespeople are widely employed in many industries. We leverage a unique data set on retail sales from a leading Chinese cold-drink manufacturer and information on the firm’s salespeople assignment rule to measure the causal effect of salespeople on product revenue. Content Type(s): Staff research, Staff working papers Topic(s): Labour markets, Service sector JEL Code(s): L, L8, L81, M, M3, M5
March 11, 2021 COVID-19, savings and household spending Remarks (delivered virtually) Lawrence L. Schembri Restaurants Canada Toronto, Ontario Deputy Governor Lawrence Schembri talks about the Bank’s latest interest rate announcement and discusses how COVID-19 has affected savings and the outlook household spending. Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Coronavirus disease (COVID-19), Domestic demand and components, Monetary policy, Recent economic and financial developments, Service sector