Uncategorized

• September 15, 2020

  Bank of Canada announces changes to the amount of Government of Canada Treasury Bills acquired at auction

  The Bank’s short-term liquidity programs announced since March to improve market functioning are continuing to have their intended effect.

  Content Type(s): Press, Market notices
• September 15, 2020

  Bank of Canada announces changes to the Provincial Money Market Purchase (PMMP) program

  The Bank’s short-term liquidity programs announced since March to improve market functioning are continuing to have their intended effect.

  Content Type(s): Press, Market notices Source(s): Provincial Money Market Purchase Program
• September 14, 2020

  Debt Management Strategy Consultations – 2021-22

  The Department of Finance and the Bank of Canada are seeking the views of government securities distributors, institutional investors, and other interested parties on issues related to the design and operation of the Government of Canada’s domestic debt program for 2021-22 and beyond.

  Content Type(s): Press, Market notices

• Predicting Payment Migration in Canada

  Staff Working Paper 2020-37 Anneke Kosse, Zhentong Lu, Gabriel Xerri

  Developments are underway to replace Canada’s two core payment systems with three new systems. We use a discrete choice model to predict migration patterns of end-users and financial institutions for future systems and discuss their policy implications.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Financial institutions, Financial services, Financial stability, Financial system regulation and policies, Payment clearing and settlement systems JEL Code(s): C, C3, E, E4, E42, G, G1, G2, G28

• Child Skill Production: Accounting for Parental and Market-Based Time and Goods Investments

  Staff Working Paper 2020-36 Elizabeth Caucutt, Lance Lochner, Joseph Mullins, Youngmin Park

  Can daycare replace parents’ time spent with children? We explore this by using data on how parents spend time and money on children and how this spending is related to their child’s development.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Fiscal policy, Labour markets, Potential output, Productivity JEL Code(s): D, D1, D13, H, H3, H31, J, J2, J22, J24

• What do high-frequency expenditure network data reveal about spending and inflation during COVID‑19?

  Staff Analytical Note 2020-20 Kim Huynh, Helen Lao, Patrick Sabourin, Angelika Welte

  The official consumer price index (CPI) inflation measure, based on a fixed basket set before the COVID 19 pandemic, may not fully reflect what consumers are currently experiencing. We partnered with Statistics Canada to construct a more representative index for the pandemic with weights based on real-time transaction and survey data.

  Content Type(s): Staff research, Staff analytical notes Research Topic(s): Inflation and prices, Payment clearing and settlement systems JEL Code(s): D, D1, D12, E, E3, E31, E4, E42, E5, E52

• The Canadian corporate investment gap

  Staff Analytical Note 2020-19 Chris D'Souza, Timothy Grieder, Daniel Hyun, Jonathan Witmer

  Business investment has been lower than expected in Canada and abroad since the financial crisis of 2007–09. This corporate investment gap is mirrored in firms’ other financing decisions, as they have increased cash holdings and dividend payments and decreased issuance of debt and equity.

  Content Type(s): Staff research, Staff analytical notes Research Topic(s): Firm dynamics, Monetary policy transmission JEL Code(s): D, D2, D22, D9, D92, G, G3, G31, G32
• September 10, 2020

  Supporting growth and greater opportunity

  Speech summary Tiff Macklem Canadian Chamber of Commerce Ottawa, Ontario

  Governor Tiff Macklem outlines how the COVID-19 recession has had an uneven impact on Canadians and discusses the Bank’s decision yesterday to leave the policy rate unchanged.

  Content Type(s): Press, Speeches and appearances, Speech summaries Research Topic(s): Coronavirus disease (COVID-19), Interest rates, Labour markets, Monetary policy, Recent economic and financial developments
• September 10, 2020

  CARR Meeting (September 10, 2020)

  Content Type(s): Meetings Source(s): Canadian Alternative Reference Rate Working Group

• Liquidity Usage and Payment Delay Estimates of the New Canadian High Value Payments System

  Staff Discussion Paper 2020-9 Francisco Rivadeneyra, Nellie Zhang

  As part of modernizing its core payments infrastructure, Canada will replace the Large Value Transfer System (LVTS) with a new Real-Time Gross Settlement (RTGS) system called Lynx. An important question for policy-makers is how Lynx should be designed.

  Content Type(s): Staff research, Staff discussion papers Research Topic(s): Financial services, Financial system regulation and policies, Payment clearing and settlement systems JEL Code(s): C, C5, E, E4, E42, E5, E58