Monetary policy communications - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T18:28:37+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 Statements2017-11-24Communicating Uncertainty in Monetary Policy
https://www.bankofcanada.ca/2017/11/staff-discussion-paper-2017-14/
While central banks cannot provide complete foresight with respect to their future policy actions, it is in the interests of both central banks and market participants that central banks be transparent about their reaction functions and how they may evolve in response to economic developments, shocks, and risks to their outlooks.2017-11-15T08:45:47+00:00enCommunicating Uncertainty in Monetary Policy2017-11-15CredibilityMonetary policyMonetary policy and uncertaintyMonetary policy communicationsStaff Discussion Paper 2017-14https://www.bankofcanada.ca/wp-content/uploads/2017/11/sdp2017-14.pdfCommunicating Uncertainty in Monetary PolicySharon KozickiJill VardyNovember 2017EE5E52E58E6E61E65