On the Nexus of Monetary Policy and Financial Stability: Effectiveness of Macroprudential Tools in Building Resilience and Mitigating Financial Imbalances Staff discussion paper 2016-11 H. Evren Damar, Miguel Molico This paper reviews the Canadian and international evidence of the effectiveness of macroprudential policy measures in building resilience and mitigating financial imbalances. The analysis concludes that these measures have broadly achieved their goal of increasing the overall resilience of the financial system to the buildup of imbalances and increasing the financial system’s ability to withstand adverse shocks. Content Type(s): Staff research, Staff discussion papers JEL Code(s): E, E5, E51, E58, G, G1, G18, G2, G28 Research Theme(s): Financial system, Financial stability and systemic risk, Financial system regulation and oversight, Household and business credit
May 1, 2018 Canada’s Economy and Household Debt: How Big Is the Problem? Remarks Stephen S. Poloz Yellowknife Chamber of Commerce Yellowknife, Northwest Territories Governor Poloz talks about household debt and how it will affect Canada’s economy and monetary policy for years. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Financial system, Financial stability, Monetary policy, Economy/Economic growth, Inflation
April 30, 2019 Research Update - April 2019 This monthly newsletter features the latest research publications by Bank of Canada economists including external publications and working papers published on the Bank of Canada’s website. Content Type(s): Staff research, Research newsletters
December 6, 2012 The Bank of Canada’s Approach to Adopting the Principles for Financial Market Infrastructures Financial System Review - December 2012 Darcey McVanel, Joey Murray Content Type(s): Publications, Financial System Review articles
Real Exchange Rate Decompositions Staff discussion paper 2022-6 Bruno Feunou, Jean-Sébastien Fontaine, Ingomar Krohn We break down the exchange rate based on an explicit link between fixed income and currency markets. We isolate a foreign exchange risk premium and show it is the main driver of the exchange rate between the Canadian and US dollars, especially on monetary policy and macroeconomic news announcement days. Content Type(s): Staff research, Staff discussion papers JEL Code(s): E, E4, E43, F, F3, F31, G, G1, G12 Research Theme(s): Financial markets and funds management, International markets and currencies, Market functioning, Monetary policy, Monetary policy framework and transmission
October 22, 2009 Release of the Monetary Policy Report Opening statement Mark Carney Ottawa, Ontario Recent indicators point to the start of a global recovery. Economic and financial developments have been somewhat more favourable than we expected in July, although significant fragilities remain. Content Type(s): Press, Speeches and appearances, Opening statements
September 4, 2015 Portraits in time As we honour Queen Elizabeth II’s historic reign with a commemorative $20 note, explore eight decades of her portraits on Canada’s bank notes.
What happens after Governing Council sets the policy interest rate: Inside the implementation framework that makes monetary policy work Staff analytical paper 2026-45 Kaetlynd McRae Setting the target rate is the most visible part of monetary policy, but the monetary policy implementation framework is what helps ensure that decision is reflected in financial markets. Through the design and use of its tools and facilities, the Bank of Canada helps keep short-term market interest rates close to the policy target, while preserving incentives for market participants to trade and actively manage liquidity. Content Type(s): Staff research, Staff analytical paper JEL Code(s): E, E4, E41, E42, E5, E51, E52, E58 Research Theme(s): Financial markets and funds management, Funds management, Monetary policy, Monetary policy framework and transmission, Monetary policy tools and implementation, Money and payments, Payment and financial market infrastructures
December 23, 2002 Systemic Risk, Designation, and the ACSS Financial System Review - December 2002 Carol Ann Northcott This report discusses the decision not to designate the Automated Clearing Settlement System as a systemically important system, as well as some of the research contributing to that decision. Content Type(s): Publications, Financial System Review articles
April 30, 2013 Research Update - April 2013 This monthly newsletter features the latest research publications by Bank of Canada economists including external publications and working papers published on the Bank of Canada’s website. Content Type(s): Staff research, Research newsletters