The Canadian economy is undergoing important, complex adjustments following the drop in oil prices over the past two years and in the context of the longer trends of population aging and modest productivity growth, Senior Deputy Governor Carolyn Wilkins said today.
The Bank of Canada is calling for nominations under its Fellowship Program for 2017. This program provides monetary awards to foster excellence in economic and financial research in Canada, and supports the Bank’s development of partnerships with leading experts.
In the first annual Paul Storer Memorial Lecture on Canada–US relations, given at Western Washington University, Governor Poloz said that the evolution of international trade practices, such as building global value chains and establishing foreign affiliates, suggests that economies are becoming more integrated.
In this paper we explore the nexus between cross-border trade integration and monetary policy. We first review the evidence that trade liberalization has increased the degree of integration in North America and conclude that, while robust structural inferences remain elusive, there is sufficient supporting evidence for central banks to treat the issue seriously.
Canadians need to understand the forces that have led to a prolonged period of low interest rates and make adjustments, Bank of Canada Governor Stephen S. Poloz said.
Governor Stephen S. Poloz talks about the adjustments that savers and companies need to make in response to low interest rates, and economic policies that can help.
The decline in the global economy’s potential to grow, and the lower interest rates that come with it, pose risks for financial stability, Bank of Canada Senior Deputy Governor Carolyn Wilkins said today. Those risks can be mitigated through deliberate efforts from the private sector and policy-makers.
Senior Deputy Governor Carolyn Wilkins discusses the financial stability risks associated with slow growth and low interest rates, and explores strategies to mitigate them.