Recent economic and financial developments

• June 18, 2020

  Spending patterns in a pandemic

  Speech summary Lawrence L. Schembri Greater Saskatoon Chamber of Commerce Saskatoon, Saskatchewan

  Deputy Governor Lawrence Schembri explains how household spending has changed because of COVID-19 and discusses why the Bank expects the recovery to have two phases.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Coronavirus disease (COVID-19), Domestic demand and components, Financial institutions, Financial services, Financial stability, Firm dynamics, Fiscal policy, Housing, Inflation and prices, Labour markets, Monetary policy, Recent economic and financial developments, Regional economic developments, Service sector
• June 18, 2020

  Living with limits: household behaviour in Canada in the time of COVID-19

  Remarks Lawrence L. Schembri Greater Saskatoon Chamber of Commerce Saskatoon, Saskatchewan

  Deputy Governor Lawrence Schembri explains how the COVID-19 pandemic has affected household spending and economic activity, and discusses what the recovery is expected to look like.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Coronavirus disease (COVID-19), Domestic demand and components, Financial institutions, Financial services, Financial stability, Firm dynamics, Fiscal policy, Housing, Inflation and prices, Labour markets, Monetary policy, Recent economic and financial developments, Regional economic developments, Service sector
• June 16, 2020

  Opening Statement before the House of Commons Standing Committee on Finance

  Opening Statement Tiff Macklem House of Commons Standing Committee on Finance Ottawa, Ontario

  Content Type(s): Press, Speeches and appearances, Opening statements Topic(s): Bank notes, Coronavirus disease (COVID-19), Financial stability, Monetary policy, Recent economic and financial developments

• Household indebtedness risks in the wake of COVID‑19

  Staff Analytical Note 2020-8 Olga Bilyk, Anson T. Y. Ho, Mikael Khan, Geneviève Vallée

  COVID-19 presents challenges for indebted households. We assess these by drawing parallels between pandemics and natural disasters. Taking into account the financial health of the household sector when the pandemic began, we run model simulations to illustrate how payment deferrals and the labour market recovery will affect mortgage defaults.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Climate change, Coronavirus disease (COVID-19), Credit and credit aggregates, Econometric and statistical methods, Financial stability, Fiscal policy, Housing, Recent economic and financial developments, Sectoral balance sheet JEL Code(s): C, C2, C21, D, D1, D12, D14, E, E2, E24, E27, E6, E62, G, G2, G21, G28, R, R2
• June 4, 2020

  Supporting markets during the crisis

  Speech summary Toni Gravelle Greater Sudbury Chamber of Commerce Sudbury, Ontario

  Speaking a day after the Bank left the policy rate unchanged, Deputy Governor Toni Gravelle explains how efforts to keep financial markets functioning through the COVID-19 crisis will lay a solid foundation for economic recovery.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Coronavirus disease (COVID-19), Financial markets, Financial stability, Monetary policy, Recent economic and financial developments
• June 4, 2020

  Economic progress report: keeping markets working

  Remarks Toni Gravelle Greater Sudbury Chamber of Commerce Sudbury, Ontario

  Deputy Governor Toni Gravelle discusses the Bank’s latest interest rate announcement and explains how efforts to keep financial markets functioning through the COVID-19 crisis will lay a solid foundation for economic recovery

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Coronavirus disease (COVID-19), Financial markets, Financial stability, Monetary policy, Recent economic and financial developments
• May 26, 2020

  Opening Statement before the Senate National Finance Committee

  Opening Statement Stephen S. Poloz Senate National Finance Committee Ottawa, Ontario

  Content Type(s): Press, Speeches and appearances, Opening statements Topic(s): Coronavirus disease (COVID-19), Financial stability, Monetary policy, Recent economic and financial developments, Transmission of monetary policy
• May 20, 2020

  Decisive actions in difficult times

  Speech summary Timothy Lane CFA Society Winnipeg and the Manitoba Association for Business Economics Winnipeg, Manitoba

  Deputy Governor Timothy Lane talks about the Bank’s decisive actions in response to COVID-19, and how these will help Canadians now and in the future.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Coronavirus disease (COVID-19), Credit and credit aggregates, Credit risk management, Domestic demand and components, Financial institutions, Financial markets, Financial services, Financial stability, Fiscal policy, Housing, Inflation and prices, Inflation targets, Interest rates, International financial markets, Labour markets, Lender of last resort, Market structure and pricing, Monetary policy, Monetary policy implementation, Productivity, Recent economic and financial developments, Service sector, Trade integration, Transmission of monetary policy, Uncertainty and monetary policy
• May 20, 2020

  Policies for the Great Global Shutdown and Beyond

  Remarks Timothy Lane CFA Society Winnipeg and Manitoba Association for Business Economics Winnipeg, Manitoba

  Deputy Governor Timothy Lane explains how the Bank is helping Canadian households and businesses weather the COVID-19 crisis, and how our actions today are laying a solid foundation for our future economic recovery.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Coronavirus disease (COVID-19), Credit and credit aggregates, Credit risk management, Domestic demand and components, Financial institutions, Financial markets, Financial services, Financial stability, Fiscal policy, Housing, Inflation and prices, Inflation targets, Interest rates, International financial markets, Labour markets, Lender of last resort, Market structure and pricing, Monetary policy, Monetary policy implementation, Productivity, Recent economic and financial developments, Service sector, Trade integration, Transmission of monetary policy, Uncertainty and monetary policy
• May 14, 2020

  Release of the Financial System Review

  Opening Statement Stephen S. Poloz Ottawa, Ontario

  Press conference following the release of the Financial System Review.

  Content Type(s): Press, Speeches and appearances, Opening statements Topic(s): Credit and credit aggregates, Financial markets, Financial stability, Financial system regulation and policies, Recent economic and financial developments