Uncategorized

• February 6, 2025

  Remarks by Tiff Macklem, Governor of the Bank of Canada

  On Thursday, February 6, 2025, Tiff Macklem, Governor of the Bank of Canada, will speak to the BIS Chapultepec Conference.

  Content Type(s): Press, Media advisories

• Effects of macroprudential policy announcements on perceptions of systemic risks

  Staff Analytical Note 2025-4 Thibaut Duprey, Victoria Fernandes, Kerem Tuzcuoglu, Ruhani Walia

  We introduce a history of macroprudential policy (MPP) events in Canada since the 1980s. We document the short-run effects of MPP announcements on market-based measures of systemic risk and find that MPPs can influence the market’s perception of large banks’ resilience.

  Content Type(s): Staff research, Staff analytical notes Research Topic(s): Econometric and statistical methods, Financial institutions, Financial stability, Financial system regulation and policies JEL Code(s): E, E5, E58, G, G2, G21, G28, G3, G32

• Exploring the drivers of the real term premium in Canada

  Staff Analytical Note 2025-3 Zabi Tarshi, Gitanjali Kumar

  Changes in the term premium can reflect uncertainty about inflation, growth and monetary policy. Understanding the key factors that influence the term premium is important when central banks make decisions about monetary policy. In this paper, we derive the real term premium from the nominal term premium in Canada.

  Content Type(s): Staff research, Staff analytical notes Research Topic(s): Econometric and statistical methods, Financial markets, Interest rates, Monetary policy and uncertainty JEL Code(s): C, C5, C58, E, E4, E43, E47, G, G1, G12
• February 5, 2025

  CFEC Releases Results of October 2024 Foreign Exchange Volume Survey

  The Canadian Foreign Exchange Committee (CFEC) released today the results of its October 2024 semi-annual survey of foreign exchange volumes in Canada.

  Content Type(s): Press, Market notices Source(s): Canadian Foreign Exchange Committee

• Monetary policy, interest rates and the Canadian dollar

  Staff Analytical Note 2025-2 Jean-Sébastien Fontaine, Ingomar Krohn, James Kyeong, Rishi Vala, Konrad Zmitrowicz

  Changes in domestic interest rates affect the value of the Canadian dollar less than changes in the risk premium do. These variations often occur when a broad shift in risk sentiment occurs in global markets. Ultimately, the value of the currency reflects long-term, slow-moving features of the economies.

  Content Type(s): Staff research, Staff analytical notes Research Topic(s): Asset pricing, Econometric and statistical methods, Exchange rates, Interest rates, Monetary policy JEL Code(s): E, E4, E43, F, F3, F31, G, G1, G12
• February 4, 2025

  CFIF Meeting (February 4, 2025)

  Content Type(s): Meetings Source(s): Canadian Fixed-Income Forum
• February 3, 2025

  Understanding quantitative easing

  QE is a tool that encourages spending and investment—helping us to achieve our inflation target by stabilizing the economy.

  Content Type(s): Explainers Research Topic(s): Inflation targets, Monetary policy
• February 3, 2025

  University of Ottawa crowned National Champion of The Governor’s Challenge

  The Bank of Canada is pleased to announce the University of Ottawa has won the tenth annual Governor’s Challenge, a national student competition in which teams simulate the role of advisor to the Bank’s Governing Council.

  Content Type(s): Press, Announcements Source(s): The Governor's Challenge
• January 31, 2025

  Reviews and appeals

  This supervisory policy describes the Bank of Canada’s process to conduct reviews, as set out in the RPAA (a “prescribed review”), and outlines what individuals, entities and payment service providers should expect if they request a prescribed review of a retail payments supervision decision.

  Content Type(s): Retail payments supervision materials, Supervisory policies Research Topic(s): Enforcement, Registration
• January 31, 2025

  Changes to Assets Eligible as Collateral under the Bank of Canada’s Standing Liquidity Facility

  As announced on June 11, 2024, the Bank of Canada made Secured General Collateral (SGC) Notes eligible as collateral under the Standing Liquidity Facility (SLF), pending necessary system enhancements.

  Content Type(s): Press, Market notices Source(s): Standing Liquidity Facility