June 29, 2026 Criteria for registering payment service providers This supervisory policy helps individuals and entities determine if they are subject to the Retail Payment Activities Act and if they should register with the Bank. Content Type(s): Retail payments materials, Supervisory policies Subject(s): Retail payments, Registration
June 29, 2010 Bank of Canada Announces Appointment of Special Adviser Media Relations Ottawa, Ontario Timothy Hodgson, Chief Executive Officer of Goldman Sachs Canada, has been appointed Special Adviser to the Governor. During a period when financial regulation and market infrastructure are evolving rapidly, the Bank of Canada will benefit from Mr. Hodgson’s profound and extensive experience in investment banking and markets. Content Type(s): Press, Press releases
November 14, 2022 Opening remarks Remarks Tiff Macklem Conference on Diversity, Equity and Inclusion in Economics, Finance and Central Banking Ottawa, Ontario Governor Tiff Macklem speaks about the need to make economics, finance and central banking more diverse and inclusive. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Financial system, Financial stability, Monetary policy, Economy/Economic growth, Inflation
May 14, 1999 Open outcry and electronic trading in futures exchanges Bank of Canada Review - Spring 1999 Raymond Tsang Despite the efficiency gains that accompany automation, most large futures exchanges have been reluctant to move away from the traditional trading floor, citing early evidence that open outcry exchanges were more liquid than electronic exchanges. More recent studies, however, suggest that electronic trading is superior to open outcry in many respects, including liquidity. In this article, the author compares the two trading systems. Although many exchanges are shifting towards electronic trading, there are still several obstacles to this transition. But as technology rapidly reduces the cost of automation and increases the demand for global 24-hour trading, a worldwide transition to electronic order-matching will likely be the next important milestone for futures exchanges. Less-automated exchanges (including the Canadian futures exchanges) will undoubtedly continue to study and promote automation in order to keep pace with technological innovations. Content Type(s): Publications, Bank of Canada Review articles
More Money for Some: The Redistributive Effects of Open Market Operations Staff working paper 2021-46 Christian Bustamante I use a search-theoretic model of money to study how open market operations affect the conduct of monetary policy and what this means for households along the wealth distribution. In the model, households vary in the size and composition of their portfolios, which in turn implies that they may be unevenly affected by open market operations. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E2, E21, E3, E32, E5, E52 Research Theme(s): Financial system, Household and business credit, Monetary policy, Monetary policy framework and transmission, Monetary policy tools and implementation
Low Inflation in Advanced Economies: Facts and Drivers Staff analytical note 2017-16 Sanjana Bhatnagar, Anne-Katherine Cormier, Patrisha de Leon-Manlagnit, Elise Martin, Vikram Rai, Renaud St-Cyr, Subrata Sarker, Kristina Hess Since the global financial crisis, core inflation has been persistently below target in most advanced economies. Recently, it has weakened further in several advanced economies despite gradually diminishing slack. This note reviews recent developments in core inflation across advanced economies and identifies distinctive patterns across regions. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E0, E3, E31, F, F0 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Real economy and forecasting
Parallel Tempering for DSGE Estimation Staff working paper 2024-13 Joshua Brault I develop a population-based Markov chain Monte Carlo algorithm known as parallel tempering to estimate dynamic stochastic general equilibrium models. Parallel tempering approximates the posterior distribution of interest using a family of Markov chains with tempered posteriors. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C1, C11, C15, E, E1, E10 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Economic models
October 19, 2020 Backgrounder on the Business Outlook Survey question on wage growth Starting with the 2020 autumn survey, the results from a question on labour cost growth are being included in the Business Outlook Survey. This document describes the question and presents the correlations between the responses and various measures of wages and employment. Content Type(s): Background materials
August 24, 2020 Sûreté du Québec and Canada Border Services Agency win Bank of Canada counterfeit prevention award The Bank of Canada is pleased to announce the recipients of its 2020 Law Enforcement Award of Excellence for Counterfeit Deterrence. Content Type(s): Press, Announcements