William B.P. Robson – The Lasting Harm of ‘Transitory’ Inflation
From: William B.P. Robson To: Canadian Inflation Watchers Date: December 6, 2021 Re: The Lasting Harm of ‘Transitory’ Inflation October’s consumer price index was up 4.7 percent from a year earlier. Numbers like these are bringing an end to talk of “transitory” inflation from many forecasters and central bankers. Not before time. Canadians dismayed by recent higher prices for […] Kronick, Laurin – Taxing Big Banks and Insurers – Unlikely to Go the Way Planned
From: Jeremy M. Kronick and Alexandre Laurin To: Finance Minister Chrystia Freeland Date: November 30, 2021 Re: Taxing Big Banks and Insurers – Unlikely to Go the Way Planned Most people understand and agree with the notion that taxation should be progressive – people who earn more should bear a greater burden of funding the services provided by government […] Two Sides of the Same Coin: Why Stablecoins and a Central Bank Digital Currency Have a Future Together
Canada Needs a Digital Dollar in the New Crypto World With Canada on the cusp of a new chapter in its monetary history as cryptocurrencies grow in popularity, the Bank of Canada should issue a central bank digital currency to facilitate the emergence of Canadian dollar stablecoins, according to a new report from the C.D. […] Jeremy Kronick on BNN – The Bank of Canada needs to adopt a digital currency
As cryptocurrencies grow in popularity, the C.D Howe Institute is calling on the Bank of Canada to issue a central bank digital currency in order to keep up with innovation in the payment space. Jeremy Kronick, Associate Director of Research, joins BNN Bloomberg for more details.
The “Demand Stabilization Mechanism”: Using Temporary GST Cuts as Automatic Fiscal Policy
Automatic GST Cuts Should Be In Ottawa’s Tool Box To Fight Downturns The federal government should consider automatic cuts to the goods and services tax (GST) in downturns as a complementary fiscal policy measure states the report. Authors Robin Boadway and Thorsten Koeppl propose an automatic mechanism that would use temporary cuts in the GST […] A Passport to Success: How Credit Unions Can Adapt to the Urgent Challenges They Face
Credit Unions Must Go Big on Digital, Scale up to Thrive Credit unions face urgent challenges in the digital revolution, including the need for large new investments in technology and room to expand, according to a new report from the C.D. Howe Institute. With the digital revolution underway, most credit unions outside of Quebec are […] Ambler, Kronick – The Bank of Canada’s Welcome Inflation Blink
From: Steve Ambler and Jeremy M. Kronick To: Inflation watchers Date: November 2, 2021 Re: The Bank of Canada’s Welcome Inflation Blink The Bank of Canada’s decision last week to leave its target for the overnight interest rate at 25 basis points and end its quantitative easing (QE) program was the right call given what now seems to be […] Il est minuit moins une, que fait votre argent? – La Presse Opinion
Que fait votre argent pour sauver la planète alors que s’ouvre la COP26, la conférence de la dernière chance pour limiter le réchauffement climatique?
Une bonne partie de votre épargne, celle qui assure(ra) votre chèque du Régime de rentes du Québec, est gérée par la Caisse de dépôt et placement, qui a récemment décidé de vendre ses dernières actions dans le pétrole, mais de conserver celles dans le gaz naturel et les pipelines.
La Caisse est l’une des 295 institutions financières de 40 pays qui, collectivement, gèrent des actifs supérieurs à 90 000 milliards de dollars américains, et qui se sont engagées à atteindre la carboneutralité de leur portefeuille d’ici 2050, à se fixer une cible intérimaire pour 2030, à…
Inflation and the Bank of Canada: the Bank blinks – Financial Post Op-Ed
On Wednesday, the Bank of Canada left its target for the overnight interest rate at 25 basis points and ended its quantitative easing (QE) program, which, through purchases of government bonds, had more than quadrupled its balance sheet. This was the right call given what now seems to be persistent underlying inflation.
From now on, the Bank will only purchase government bonds to replace ones that mature. Its balance sheet will stay high compared to its pre-pandemic level but, in theory, won’t grow further. Tightening monetary policy to deal with inflation above target can now come in only one of two forms: shrinking the balance sheet by selling or not replacing maturing government bonds or, more likely, hiking the overnight…
Eloise Duncan – Financial Resilience Index: a New Tool to Refine Income Support
From: Eloise Duncan To: Finance Minister Chrystia Freeland Date: October 28, 2021 Re: Financial Resilience Index: a New Tool to Refine Income Support Governments were generous and broad in their financial support during the COVID-19 pandemic, but as the economy returns to a normal state – and fiscal positions remain under strain – it is […] Daniel Schwanen – Ill-Thought Regulation Risks Canadian Access to the Full Benefits of Digital Technology
From: Daniel Schwanen To: The Incoming Canadian Parliament Date: October 7, 2021 Re: Ill-Thought Regulation Risks Canadian Access to the Full Benefits of Digital Technology Canada’s newly elected Parliament will be considering a bevy of proposals for reforms aimed at regulating how Canadians interact with social media platforms and other providers of digital services and content. […] Martin Eichenbaum – Meet r Minus g: A New Way to Worry about Deficit Spending
From: Martin Eichenbaum To: Canadian deficit watchers Date: October 1, 2021 Re: Meet r Minus g: A New Way to Worry about Deficit Spending Should Canadians worry about the level of government debt when interest rates are so low? Yes. But the primary danger doesn’t come so much from Canada. Instead, it comes from the fiscal behavior of the […]