March 9, 2009 Bank of Canada Announces Details of its 21 Day Term PRA Transaction In accordance with the schedule of term purchase and resale agreement (PRA) auctions announced on 20 January. Content Type(s): Press, Market notices
Computing the Accuracy of Complex Non-Random Sampling Methods: The Case of the Bank of Canada's Business Outlook Survey Staff working paper 2009-10 Daniel de Munnik, David Dupuis, Mark Illing A number of central banks publish their own business conditions surveys based on complex non random sampling methods. The results of these surveys influence monetary policy decisions and thus affect expectations in financial markets. To date, however, no one has computed the accuracy of these surveys because their respective non-random sampling method renders this assessment non-trivial. This paper describes a methodology for modeling complex non-random sampling behaviour, and computing relevant measures of statistical confidence, based on a given survey’s historical selection practice. We apply this framework to the Bank of Canada’s Business Outlook Survey by describing the sampling method in terms of rules-based criteria, historical practices, and Bayesian probabilities. This allows us to replicate the firm selection process using Monte Carlo simulations on a comprehensive micro-dataset of Canadian firms. We find, under certain assumptions, no evidence that the Bank’s firm selection process results in biased estimates and/or wider confidence intervals. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C4, C8, C81, C9, C90 Research Theme(s): Models and tools, Econometric, statistical and computational methods
March 9, 2009 Results of the 9 March 2009 Term PRA Transaction for Private Sector Money Market Instruments The results of today's term PRA operations. Content Type(s): Press, Market notices
March 9, 2009 Results for the 9 March 2009 Term Loan Facility The results of today's TLF operation. Content Type(s): Press, Market notices
March 9, 2009 Bank of Canada Announces the Minimum Bid Rate for Today's Term PRA Facility for Private Sector Money Market Instruments The minimum bid rate for today's 14-day Term PRA Facility for Private Sector Money Market Instruments is 1.245%. Content Type(s): Press, Market notices
March 6, 2009 Bank of Canada Announces Final Details for the New Term PRA Facility for Private Sector Instruments As part of its provision of liquidity to support the efficient functioning of the market for private-sector securities. Content Type(s): Press, Market notices
March 6, 2009 Bank of Canada Announces Details of its Term PRA Facility for Private Sector Money Market Instruments In accordance with the schedule of term purchase and resale agreement (PRA) auctions for private sector money market instruments announced on 20 January. Content Type(s): Press, Market notices
March 6, 2009 Bank of Canada Announces Revised Schedules of Bank of Canada Liquidity Operations Commencing the Week of 16 March 2009 The following are revised schedules of the Bank of Canada liquidity operations commencing the week of 16 March 2009. Content Type(s): Press, Market notices
March 6, 2009 Bank of Canada Announces Details of its 28 Day Term Loan Facility In accordance with the schedule of Term Loan Facility (TLF) auctions announced on 20 January. Content Type(s): Press, Market notices
March 5, 2009 Opening Statement before the House of Commons Standing Committee on Finance Opening statement Pierre Duguay House of Commons Standing Committee on Finance Ottawa, Ontario As we have consistently emphasized, stabilization of the global financial system is a precondition for economic recovery, both globally and in Canada. To that end, policy-makers around the globe have acted aggressively and creatively by initiating a series of unprecedented actions aimed at stabilizing the global financial system. Content Type(s): Press, Speeches and appearances, Opening statements