E43 - Interest Rates: Determination, Term Structure, and Effects - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T01:38:40+00:00Estimating Canada’s Effective Lower Bound
https://www.bankofcanada.ca/2015/12/staff-analytical-note-2015-2/
In 2009, the Bank of Canada set its effective lower bound (ELB) at 25 basis points (bps). Given the recent experience of Sweden, Denmark, Switzerland and the euro area with negative interest rates, we examine the economics of negative interest rates and suggest that cash storage costs are the source of a negative lower bound on interest rates.2015-12-08T10:22:55+00:00enEstimating Canada’s Effective Lower Bound2015-12-08