December 8, 2015 Framework for Conducting Monetary Policy at Low Interest Rates This document outlines a series of monetary policy measures that could be deployed in a very low interest rate environment. Content Type(s): Background materials
January 23, 2003 Monetary Policy Report Update – January 2003 At the time of the October Monetary Policy Report, the Bank projected that core inflation would rise in the fourth quarter of 2002, reflecting a combination of one-off factors - including the rise in insurance premiums - and the “echo effect” from developments towards the end of 2001. Content Type(s): Publications, Monetary Policy Report
July 20, 2011 Monetary Policy Report – July 2011 The Canadian economy is projected to expand by 2.8 per cent in 2011, 2.6 per cent in 2012, and 2.1 per cent in 2013, returning to capacity in the middle of 2012. Total CPI inflation is expected to return to the 2 per cent target by the middle of 2012. Content Type(s): Publications, Monetary Policy Report
July 30, 2020 Bank of Canada publishes its 2021 schedule for policy interest rate announcements and other major publications, makes change to effective date of rate decisions Media Relations Ottawa, Ontario The Bank of Canada today published its 2021 schedule for policy interest rate announcements and the release of the quarterly Monetary Policy Report. It also reconfirmed the scheduled interest rate announcement dates for the remainder of this year. Content Type(s): Press, Press releases
April 16, 2020 CORRA illustrative time series updated to include additional data from February to April, 2020 As announced on February 18, 2020, the Bank of Canada will take over the responsibility for publishing the Canadian Overnight Repo Rate Average (CORRA), effective Monday, June 15, 2020. Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
Evaluating the Effects of Forward Guidance and Large-scale Asset Purchases Staff working paper 2021-54 Xu Zhang I propose a novel method to identify and estimate the macroeconomic effects of forward guidance and large-scale asset purchases (LSAP) for each FOMC announcement. I find that LSAP is more important than forward guidance in influencing output and inflation. LSAP puts upward pressure on short-term yields, so it should always be used in conjunction with forward guidance. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E5, G, G0 Research Theme(s): Models and tools, Economic models, Monetary policy, Monetary policy tools and implementation
July 22, 2004 Monetary Policy Report Update – July 2004 Since the April Monetary Policy Report, three developments have led the Bank of Canada to make small modifications to its outlook for economic growth and inflation in Canada. Content Type(s): Publications, Monetary Policy Report
January 26, 2006 Monetary Policy Report Update – January 2006 The Canadian and global economies are evolving essentially in line with the Bank’s expectations. Content Type(s): Publications, Monetary Policy Report
October 23, 2008 Bank of Canada Announces Details of its Term PRA Facility for Private Sector Money Market Instruments The Bank of Canada strongly welcomes the decisive actions announced today by the U.S. authorities. These significant and timely measures are part of the implementation of the G7 Action Plan agreed last Friday. Content Type(s): Press, Market notices
April 23, 2003 Monetary Policy Report – April 2003 The global economic outlook has been clouded by a high degree of uncertainty, accentuated most recently by the war in Iraq. Content Type(s): Publications, Monetary Policy Report