This report studies the dynamics of Bitcoin awareness and ownership from 2016 to 2021, using the Bank of Canada's Bitcoin Omnibus Surveys (BTCOS). In 2021, Canadians' awareness of Bitcoin remained stable at about 90%, while ownership increased to 13% from the 5% observed in 2018-2020. Canadian...

We measure crypto and financial literacy using microdata from the Bank of Canada's Bitcoin Omnibus Survey. Our crypto literacy measure is based on three questions covering basic aspects of Bitcoin. The financial literacy measure we use is based on three questions covering basic aspects of...

The process by which most Central Banks target nominal interest rates and implement monetary policy has changed considerably in the last 20 years. Today, the use of interest payments on reserves and the decoupling of rate targets (e.g., the Fed Funds Rate) from reserve targets now play a crucial...

We discuss the payment habits of Canadians both in the current payment environment and in a hypothetical cashless environment. We also consider whether a central bank digital currency (CBDC) would address unmet payment needs in a cashless society. Most adult Canadians do not experience gaps in...

The efficient distribution of bank notes is a first-order responsibility of central banks. The authors study the distribution patterns of bank notes with an administrative dataset from the Bank of Canada’s Currency Inventory Management Strategy. The single note inspection procedure generates a...