Housing
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December 7, 2023
Economic progress report: Immigration, housing and the outlook for inflation
Deputy Governor Toni Gravelle discusses the latest interest rate decision along with how immigration helps Canada’s economy and how it impacts inflation. -
December 7, 2023
What population growth means for the economy and inflation
Speaking a day after we decided to hold interest rates steady at 5%, Deputy Governor Toni Gravelle discusses immigration, inflation and the role that newcomers play in helping our economy grow. -
Predicting Changes in Canadian Housing Markets with Machine Learning
We apply two machine learning algorithms to forecast monthly growth of house prices and existing homes sales in Canada. Although the algorithms can sometimes outperform a linear model, the improvement in forecast accuracy is not always statistically significant. -
September 19, 2023
Household differences and monetary policy
Deputy Governor Sharon Kozicki talks about how differences in debt, income and savings across households shaped their experience through the COVID-19 pandemic and how this is affecting monetary policy now. -
September 19, 2023
Rebalancing the economy while managing risks
Bank of Canada Deputy Governor Sharon Kozicki talks about how household differences have affected the way that monetary policy is transmitted. She also discusses how the Bank is considering the role of mortgage interest costs in inflation. -
The Macroeconomic Effects of Debt Relief Policies During Recessions
A large-scale reduction in mortgage principal can strengthen a recovery, support house prices and lower foreclosures. The nature of the intervention shapes its impact, which rests on how resources are redistributed across households. The availability of bankruptcy on unsecured debt changes the response to large-scale mortgage relief by reducing precautionary savings. -
Unpacking Moving: A Quantitative Spatial Equilibrium Model with Wealth
We propose a model to understand low observed migration rates by considering the interaction between location and wealth decisions. We look at different policies and find that temporary moving vouchers only slightly increase welfare, while lower housing regulations can decrease the welfare gap by lowering house prices nationwide. -
June 8, 2023
Economic progress report: Are we entering a new era of higher interest rates?
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. -
June 8, 2023
Adjusting to higher interest rates
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.