97 (December 2006); J. Dorich, R. R. Mendes and Y. Zhang, “Introducing Multiple Interest Rates in ToTEM,” Bank of Canada Review (Summer 2011): 3–10; J. Dorich, M. K. Johnston, R. R. Mendes, S. Murchison and Y. Zhang, “ToTEM II: An Updated Version of the Bank of Canada’s Quarterly Projection Model,” Bank of Canada Technical Report No. 100 (October 2013).
17 An estimate of the impact of the lower oil prices without a monetary policy response was provided in Bank of Canada, “Appendix: The Impact of Lower Oil Prices on the Canadian Economy,” Monetary Policy Report (January 2015): 25–26.