I study the welfare consequences of regulations on high-cost consumer credit in the United States and find that borrowing limits have distributional impacts on households with self-control issues.

We use rich microdata to measure home equity extraction in Canada and track its evolution over time. We find home equity extraction has been rising in recent years and has likely contributed ...

Investments drive economic activity, which benefits both companies and workers. New equipment can make a business more ...

Weekly Wednesday statement of assets and liabilities as required by the Bank of Canada Act. The figures for the last reference period are preliminary and are subject to revision.

We estimate the share of variable-rate mortgages with fixed payments that reached the so-called trigger rate—the interest rate at which mortgage payments no longer cover the principal. Amid rising ...

Exceptional strength in the housing market during the pandemic is underpinning Canada’s economic recovery. However, two key vulnerabilities—housing market imbalances and elevated household ...

Learn about the Bank’s role in overseeing financial market infrastructure (FMIs), its oversight responsibilities and powers under Canada’s Payment Clearing and Settlement Act, and which FMIs are ...

The new US administration is considering sweeping tariffs on imports. While many important elements are unknown, these measures could be highly disruptive to the Canadian and US economies.

This note analyzes mortgage stress tests, a macroprudential tool. We find that when mortgage stress tests are applied to all mortgage purchase originations, they improve credit quality and reduce ...

Box 1: A new overlapping generations model We introduce a new overlapping generations (OLG) model this year for estimating the US neutral rate. The model is largely based on the one Kuncl and Matveev ...

This background note explains the Bank’s official position on CBDC. It outlines the public policy, design, technology and risk management issues the Bank is considering as it builds its capacity to ...

The Canadian Overnight Repo Rate Average (CORRA) is a measure of the cost of overnight general collateral funding in Canadian dollars using Government of Canada (GoC) treasury bills and bonds as ...