April 13, 2009
Results of the 13 April 2009 Term PRA Transaction
Results of today's term PRA operations.
Posts
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April 13, 2009
Business Outlook Survey - Spring 2009
Business sentiment remains negative. While some indicators have inched up from historical lows, the results of the spring survey continue to suggest a weak outlook for the Canadian economy.
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April 9, 2009
Bank of Canada Appoints Two Advisers
The Bank of Canada today announced the appointments of David Wolf to the permanent position of Adviser and Jean Boivin to the rotating role of Special Adviser for the term 2009-2010. -
April 9, 2009
Next Steps for Canadian Monetary Policy
In 2006, the Bank initiated a research program exploring two alternatives to the current inflation-targeting framework: (i) lowering the inflation target and (ii) shifting to a price-level target. This article discusses progress to date, places the Bank's findings in the context of a broader literature, and identifies avenues for future research. -
April 9, 2009
Bank of Canada Review - Spring 2009
Examination of progress in the Bank’s exploration of two alternatives to the current inflation-targeting framework: (i) lowering the inflation target and (ii) shifting to a price-level target; a review of arguments for and against price-level targeting, focusing on its costs and benefits compared with inflation targeting; assessing the merits of price-level targeting vis-à-vis inflation targeting from a debt-revaluation perspective; quantifying redistribution of wealth in Canada in the face of unexpected inflation. -
April 9, 2009
Bank of Canada Announces Details of its Term Loan Facility Operation
In accordance with the schedule of Term Loan Facility (TLF) auctions announced on 6 March, the Bank of Canada announced today that it will conduct a 28-day TLF operation as follows. -
April 9, 2009
Bank of Canada Announces Details of its Term PRA for Private Sector Instruments Operation
In accordance with the schedule of term purchase and resale agreement (PRA) auctions for private sector instruments announced on 6 March, the Bank of Canada announced today that it will conduct a 28-day term PRA operation for private sector instruments as follows. -
April 9, 2009
Bank of Canada Announces Details of its Term PRA Operation
In accordance with the schedule of term purchase and resale agreement (PRA) auctions announced on 6 March, the Bank of Canada announced today that it will conduct a 28-day term PRA operation as follows. -
April 9, 2009
Results of the 9 April 2009 Sale of Treasury Bills for Balance Sheet Management Purposes
Results of the 9 April 2009 Sale of Treasury Bills for Balance Sheet Management Purposes. -
April 8, 2009
Price-Level Targeting and Stabilization Policy: A Review
This article reviews arguments in the literature for and against price-level targeting, focusing on its costs and benefits compared with inflation targeting. Benefits of price-level targeting include the effect on forward-looking inflation expectations; the ability to substitute for commitment by a central bank to its future policies; lessening forecast errors; better economic performance in response to real shocks because of lower wage indexation; and a reduction in the problem of the zero lower bound on nominal interest rates.