December 15, 2021 Our monetary policy framework: Continuity, clarity and commitment Remarks (delivered virtually) Tiff Macklem Empire Club of Canada Toronto, Ontario Governor Tiff Macklem discusses the Bank of Canada’s renewed monetary policy framework. He reviews Canada’s experience with flexible inflation targeting and explains why the Bank and the Government of Canada agreed to renew the 2 percent inflation target. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Financial system, Financial stability, Monetary policy, Economy/Economic growth, Inflation targeting framework
December 6, 2007 Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce Opening statement David Dodge Standing Senate Committee on Banking, Trade and Commerce In Canada, we were looking for weaker economic growth in the fourth quarter of this year and the first half of 2008, but some strengthening thereafter. As you can see from Table 2, we were expecting continued strong final domestic demand throughout the projection period, but considerably weaker net exports. Content Type(s): Press, Speeches and appearances, Opening statements
Foreign Exchange Fixings and Returns Around the Clock Staff working paper 2021-48 Ingomar Krohn, Philippe Mueller, Paul Whelan We document a new empirical finding in the foreign exchange market: currency returns show systematic reversals around the benchmark fixings. Specifically, the US dollar, on average, appreciates in the hours before fixes and depreciates after fixes. Content Type(s): Staff research, Staff working papers JEL Code(s): F, F3, F31, G, G1, G15 Research Theme(s): Financial markets and funds management, International markets and currencies, Market functioning
April 15, 2006 Issues in Inflation Targeting: A Summary of the Bank of Canada Conference Held 28-29 April 2005 Bank of Canada Review - Spring 2006 Robert Amano, Raphael Solomon The Bank of Canada's 2005 conference focused on two critical issues: price-level targets versus inflation targets, and the appropriate level of inflation. Session topics included new methodological approaches to examining the validity of the New Keynesian Phillips curve for Canada; the monetary policy implications of border effects and the financial-accelerator model; the zero lower bound on nominal interest rates; and inflation and welfare in general-equilibrium macroeconomic models. A panel of invited speakers discussed the issues of each session, and two distinguished speakers gave their perspectives on inflation. Content Type(s): Publications, Bank of Canada Review articles
July 10, 2007 Bank of Canada raises overnight rate target by 1/4 percentage point to 4 1/2 per cent Media Relations Ottawa, Ontario The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 4 1/2 per cent. Content Type(s): Press, Press releases
June 16, 2021 Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce Opening statement Tiff Macklem Standing Senate Committee on Banking, Trade and Commerce Ottawa, Ontario Content Type(s): Press, Speeches and appearances, Opening statements Subject(s): Monetary policy, Economy/Economic growth, Inflation, Inflation targeting framework
BoC–BoE Sovereign Default Database: Appendix and References Technical report No. 125 David Beers, Obiageri Ndukwe, Joe Berry Since 2014, the Bank of Canada (BoC) has maintained a comprehensive database of sovereign defaults to systematically measure and aggregate the nominal value of the different types of sovereign government debt in default. The database is posted on the BoC’s website and is updated annually in partnership with the Bank of England (BoE). Content Type(s): Staff research, Technical reports JEL Code(s): F, F3, F34, G, G1, G10, G14, G15 Research Theme(s): Financial markets and funds management, Funds management, Financial system, Financial stability and systemic risk
July 15, 2020 Bank of Canada will maintain current level of policy rate until inflation objective is achieved, continues program of quantitative easing Media Relations Ottawa, Ontario The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent. Content Type(s): Press, Press releases
November 20, 2007 Managing Risks to Financial System Stability Remarks Pierre Duguay CFA Québec Québec, Québec The recent dislocations in credit markets have brought these issues into sharp focus. Among other things, the market turbulence has highlighted the critical role that confidence and liquidity play in financial markets. Content Type(s): Press, Speeches and appearances, Remarks
July 24, 2024 Monetary Policy Report – July 2024 – Risks The Bank sees two broad types of upside risks to the inflation outlook and two main downside risks, though the base-case scenario is considered the mostly likely outcome.