October 8, 2008 Central Banks Announce Coordinated Interest Rate Reductions Media Relations Throughout the current financial crisis, central banks have engaged in continuous close consultation and have cooperated in unprecedented joint actions such as the provision of liquidity to reduce strains in financial markets. Content Type(s): Press, Press releases
Stablecoins and Their Risks to Financial Stability Staff discussion paper 2022-20 Cameron MacDonald, Laura Zhao What risks could stablecoins pose to the financial system? We argue that the stabilization mechanisms of stablecoins give rise to the risk of confidence runs, which can propagate to broader cryptoasset markets and the traditional financial sector. We also argue that stablecoins can contribute to financial stability risks by facilitating the buildup of leverage and liquidity mismatch in decentralized finance. Such risks cannot be addressed by ensuring the price stability of stablecoins alone. Finally, we explore the potential implications of stablecoins for the current system of bank-intermediated credit and for monetary policy. Content Type(s): Staff research, Staff discussion papers JEL Code(s): E, E4, E42, E44, E5, E58, G, G2, G23 Research Theme(s): Financial system, Financial stability and systemic risk, Money and payments, Digital assets and fintech
December 15, 2016 Monitoring Shadow Banking in Canada: A Hybrid Approach Financial System Review - December 2016 Bo Young Chang, Gitanjali Kumar, André Usche, Michael Januska In Monitoring Shadow Banking in Canada: A Hybrid Approach, Bo Young Chang, Michael Januska, Gitanjali Kumar and André Usche discuss how lending that occurs outside the traditional banking system provides benefits to the economy but must be monitored carefully for potential financial sector vulnerabilities. They describe how the Bank defines and measures shadow banking and how it assesses vulnerabilities in the sector, using an approach that examines both markets and entities. Content Type(s): Publications, Financial System Review articles JEL Code(s): G, G0, G01, G2, G23
February 17, 2011 Conference Summary: Financial Globalization and Financial Instability Bank of Canada Review - Winter 2010-2011 Scott Hendry The Bank of Canada’s annual conference, held in October 2010, brought together leading researchers from universities and central banks around the world. Content Type(s): Publications, Bank of Canada Review articles
October 8, 2010 Business Outlook Survey A quarterly summary of interviews conducted by the Bank's regional offices with the senior management of about 100 firms.
April 7, 2006 Summary of Comments – 2006/07 Debt Strategy Consultations In November 2005, officials from the Department of Finance and the Bank of Canada sought views from Government Securities Distributors and institutional investors on a number of issues related to the design and operation of domestic debt programs.
March 26, 2025 Summary of Governing Council deliberations: Fixed announcement date of March 12, 2025 This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on March 12, 2025. Content Type(s): Publications, Summary of deliberations
Markov‐Switching Three‐Pass Regression Filter Staff working paper 2017-13 Pierre Guérin, Danilo Leiva-Leon, Massimiliano Marcellino We introduce a new approach for the estimation of high-dimensional factor models with regime-switching factor loadings by extending the linear three-pass regression filter to settings where parameters can vary according to Markov processes. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C2, C22, C23, C5, C53 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Economic models, Monetary policy, Real economy and forecasting
The Effects of Inflation Targeting for Financial Development Staff analytical note 2019-21 Geoffrey R. Dunbar, Amy (Qijia) Li The adoption of inflation targeting (IT) by central banks leads to an increase of 10 to 20 percent in measures of financial development, with a lag. We also find evidence that the financial sector benefits of IT adoption were higher for early-adopting central banks. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E4, E44, E5, E58 Research Theme(s): Financial system, Financial institutions and intermediation, Monetary policy, Monetary policy framework and transmission
February 16, 2023 No two ways about it: Why the Bank is committed to getting back to 2% Remarks Paul Beaudry Alberta School of Business Edmonton, Alberta Deputy Governor Paul Beaudry discusses the benefits of being near the Bank’s 2% inflation target and the dangers of straying from it for too long. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Monetary policy, Economy/Economic growth, Inflation, Inflation targeting framework