James Kyeong - Bank Publications - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T10:34:55+00:00The Impacts of Monetary Policy Statements
https://www.bankofcanada.ca/2017/11/staff-analytical-note-2017-22/
In this note, we find that market participants react to an unexpected change in the tone of Canadian monetary policy statements. When the market perceives that the Bank of Canada plans to tighten (or alternatively, loosen) the monetary policy earlier than previously expected, the Canadian dollar appreciates (or depreciates) and long-term Government of Canada bond yields increase (or decrease). The tone of a statement is particularly relevant to the market when the policy rate has been unchanged for some time.2017-11-24T09:18:40+00:00enThe Impacts of Monetary Policy Statements2017-11-24