Coronavirus disease (COVID-19)

• September 10, 2020

  Supporting growth and greater opportunity

  Speech summary Tiff Macklem Canadian Chamber of Commerce Ottawa, Ontario

  Governor Tiff Macklem outlines how the COVID-19 recession has had an uneven impact on Canadians and discusses the Bank’s decision yesterday to leave the policy rate unchanged.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Coronavirus disease (COVID-19), Interest rates, Labour markets, Monetary policy, Recent economic and financial developments
• September 10, 2020

  Economic progress report: a very uneven recovery

  Remarks (delivered virtually) Tiff Macklem The Canadian Chamber of Commerce Ottawa, Ontario

  Governor Tiff Macklem discusses the Bank’s latest interest rate announcement and explains the uneven impact that the COVID-19 pandemic is having on different sectors and people.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Coronavirus disease (COVID-19), Interest rates, Labour markets, Monetary policy, Recent economic and financial developments
• August 27, 2020

  The imperative for public engagement

  Remarks (delivered virtually) Tiff Macklem Federal Reserve Bank of Kansas City Jackson Hole Symposium Jackson Hole, Wyoming

  Governor Tiff Macklem talks about the need for the Bank to be clear, relatable and understandable when it communicates with the public.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Coronavirus disease (COVID-19), Credibility, Monetary policy, Monetary policy and uncertainty
• August 25, 2020

  Our COVID-19 response: Large-scale asset purchases

  Paul Beaudry

  The Bank of Canada has taken many actions to support Canadians since the COVID-19 pandemic struck. These include large-scale asset purchases—buying a substantial amount of government bonds and other financial assets. Our purchases serve two purposes. They help key financial markets work properly, and they can help increase spending in the economy. This leads to more employment and stronger economic growth.

  Content Type(s): Publications, The Economy, Plain and Simple Topic(s): Coronavirus disease (COVID-19), Debt management, Financial markets, Financial stability, Inflation and prices, Interest rates, Market structure and pricing, Monetary policy, Monetary policy: transmission of
• August 25, 2020

  The gap between inflation perceptions and reality

  Speech summary Lawrence L. Schembri Canadian Association for Business Economics Kingston, Ontario

  Deputy Governor Lawrence Schembri talks about the difference between how Canadians perceive inflation and the actual measured rate, why this gap may exist, and what it could mean for monetary policy and the economy.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Central bank research, Coronavirus disease (COVID-19), Inflation and prices, Inflation targets, Monetary policy
• August 25, 2020

  Perceived inflation and reality: understanding the difference

  Remarks (delivered virtually) Lawrence L. Schembri Canadian Association for Business Economics Kingston, Ontario

  In a virtual address to the Canadian Association for Business Economics, Deputy Governor Lawrence Schembri discusses the difference between how Canadians perceive inflation and the actual measured rate. He explains why that gap may exist and what it could mean for monetary policy and the economy.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Central bank research, Coronavirus disease (COVID-19), Inflation and prices, Inflation targets, Monetary policy
• July 15, 2020

  Monetary Policy Report Press Conference Opening Statement

  Opening statement Tiff Macklem Ottawa, Ontario

  Governor Tiff Macklem discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR.

  Content Type(s): Press, Speeches and appearances, Opening statements Topic(s): Coronavirus disease (COVID-19)

• COVID-19 and bond market liquidity: alert, isolation and recovery

  Staff Analytical Note 2020-14 Jean-Sébastien Fontaine, Hayden Ford, Adrian Walton

  The disruption due to COVID-19 reverberated through the bond markets in three phases. In the first phase, dealers met the rising demand for liquidity. In the second, dealers reduced the supply of liquidity, and trading conditions worsened significantly. Finally, the market returned to relative stability following several interventions by the Bank of Canada.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Coronavirus disease (COVID-19), Financial markets, Monetary policy JEL Code(s): E, E4

• Cash and COVID-19: The impact of the pandemic on demand for and use of cash

  Staff Discussion Paper 2020-6 Heng Chen, Walter Engert, Kim Huynh, Gradon Nicholls, Mitchell Nicholson, Julia Zhu

  Consumer spending declined significantly during the recent COVID-19 pandemic. This negative shock likely reduced spending across all methods of payment (cash, debit, credit, etc.). The mix of payment methods consumers use could also be affected. We study how the pandemic has influenced the demand for and use of cash. We also offer insights into the use of other payment methods, such as debit and credit cards.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Bank notes, Central bank research, Coronavirus disease (COVID-19), Digital currencies and fintech, Econometric and statistical methods JEL Code(s): C, C1, C12, C9, E, E4, O, O5, O54
• June 30, 2020

  Our COVID-19 response: Navigating diverse economic impacts

  Lawrence L. Schembri

  The pandemic and related measures to control the spread of the virus have deeply affected Canadians and the Canadian economy. The impacts have been different across sectors and regions. The economic recovery will also vary across the country as local economies start to reopen.

  Content Type(s): Publications, The Economy, Plain and Simple Topic(s): Coronavirus disease (COVID-19)