September 13, 2011
Bank of Canada Calls for Nominations for the 2012 Fellowship and Governor’s Awards
The Bank of Canada calls for nominations for the 2012 Fellowship and Governor’s Awards.
Posts
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Price-Level Targeting and Inflation Expectations: Experimental Evidence
In this paper, we use an economics decision-making experiment to test a key assumption underpinning the efficacy of price-level targeting relative to inflation targeting for business cycle stabilization and mitigating the effects of the zero lower bound on nominal interest rates. -
September 7, 2011
Bank of Canada maintains overnight rate target at 1 per cent
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. -
August 24, 2011
Quarterly Financial Report - Second Quarter 2011
Quarterly Financial Report - Second Quarter, 2011 - For the period ended 30 June 2011 -
August 24, 2011
The Role of the G-20 in Sustaining the Recovery and Protecting Financial Stability
In his speech, Senior Deputy Governor Tiff Macklem discusses the G-20 reform agenda to achieve durable financial stability and sustainable and balanced economic growth. -
August 23, 2011
Bank of Canada Announces the Recipient of Its 2011 Law Enforcement Award of Excellence for Counterfeit Deterrence
The Bank of Canada announces that the recipient of its 2011 Law Enforcement Award of Excellence for Counterfeit Deterrence is the RCMP Integrated Counterfeit Enforcement Team in Surrey, British Columbia. -
August 23, 2011
How People Think and How It Matters
In his speech entitled “How People Think and How it Matters,” delivered to the Canadian Association for Business Economics, Deputy Governor Jean Boivin reviews various ways people form expectations and how these affect monetary policy. -
August 19, 2011
Opening Statement before the House of Commons Standing Committee on Finance
Thank you for this opportunity to appear here today. Recent Economic and Financial Developments In recent weeks, several downside risks to the Bank’s July Monetary Policy Report (MPR) projection have been realised. The European sovereign crisis has intensified, the U.S. credit rating has been downgraded, and a broad range of data has signalled slower global […] -
August 18, 2011
Bank of Canada Review - Summer 2011
This special issue, “Real-Financial Linkages,” examines the Bank’s research using theoretical and empirical models to improve its understanding of the linkages between financial and macroeconomic developments in the wake of the recent global financial crisis. -
August 18, 2011
Introducing Multiple Interest rates in ToTEM
This article describes changes to the structure of ToTEM—the Bank of Canada’s main model for projection and policy analysis—that allow an independent role for long-term interest rates, as well as for the risk spreads that lead to differences in the interest rates faced by households, firms and the government. These changes broaden the range of policy questions that the model can address and improve its ability to explain data. The authors use the model to simulate the effects of shocks to the risk spreads on interest rates similar to those that occurred during the recent financial crisis. They also use the model to assess the macroeconomic impact of higher requirements for bank capital and liquidity.