Monetary policy transmission - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T14:03:23+00:00Monetary Policy Transmission Through Shadow and Traditional Banks
https://www.bankofcanada.ca/2024/03/staff-working-paper-2024-8/
I investigate how monetary policy transmits to mortgage rates via the mortgage market concentration channel for both traditional and shadow banks in the United States from 2009 to 2019. On average, shadow and traditional banks exhibit only a slight disparity in transmitting monetary shocks to mortgage rates.2024-03-21T14:53:44+00:00enMonetary Policy Transmission Through Shadow and Traditional Banks2024-03-21Financial institutionsInterest ratesMonetary policy transmissionStaff Working Paper 2024-8https://www.bankofcanada.ca/wp-content/uploads/2024/03/swp2024-8.pdfStaff Working Paper 2024-8Amina EnkhboldMarch 2024EE4E44E5E52GG2G21How changes in the share of constrained households affect the effectiveness of monetary policy
https://www.bankofcanada.ca/2024/02/staff-analytical-note-2024-3/
We measure how the change in the share of constrained households in Canada following the COVID-19 recession has impacted the effectiveness of monetary policy.2024-02-21T14:06:06+00:00enHow changes in the share of constrained households affect the effectiveness of monetary policy2024-02-21The Role of International Financial Integration in Monetary Policy Transmission
https://www.bankofcanada.ca/2024/02/staff-working-paper-2024-3/
We propose an open-economy New Keynesian model with financial integration that allows financial intermediaries to hold foreign long-term bonds. We study the implications of financial integration on monetary policy transmission. Among various aspects of financial integration, the bond duration plays a major role. These results hold for conventional and unconventional monetary policies.2024-02-06T14:47:16+00:00enThe Role of International Financial Integration in Monetary Policy Transmission2024-02-06Central bank researchInternational financial marketsMonetary policy transmissionStaff Working Paper 2024-3https://www.bankofcanada.ca/wp-content/uploads/2024/02/swp2024-3.pdfThe Role of International Financial Integration in Monetary Policy TransmissionJing Cynthia WuYinxi XieJi ZhangFebruary 2024EE4E44E5E52FF3F36F4F42Monetary policy: It’s perfectly imperfect
https://www.bankofcanada.ca/2024/02/monetary-policy-perfectly-imperfect/
Governor Tiff Macklem speaks about the effectiveness—and limitations—of monetary policy. He highlights how raising and lowering the policy interest rate ultimately keeps inflation low, stable and predictable, despite significant shocks to the economy.2024-02-06T12:45:49+00:00Monetary policy: It’s perfectly imperfect2024-02-06Tiff MacklemMonetary policy: The right tool for the right job
https://www.bankofcanada.ca/2024/02/monetary-policy-right-tool-right-job/
Governor Tiff Macklem discusses how monetary policy is working to bring inflation down—and how it has worked to return inflation to target over the last 25 years. He also talks about the limits of monetary policy, and why the right focus is on controlling inflation in the medium term.2024-02-06T12:45:32+00:00Monetary policy: The right tool for the right job2024-02-06Tiff MacklemModelling Canadian mortgage debt and payments in a semi-structural model
https://www.bankofcanada.ca/2024/01/staff-analytical-note-2024-1/
We show how Canadian mortgage debt dynamics can be modelled in a semi-structural macroeconomic model, such as the Bank of Canada’s LENS. The model we propose accounts for Canada’s unique mortgage debt structure.2024-01-08T11:16:48+00:00enModelling Canadian mortgage debt and payments in a semi-structural model2024-01-08How higher interest rates affect inflation
https://www.bankofcanada.ca/2023/12/how-higher-interest-rates-affect-inflation/
When the Bank of Canada changes its policy interest rate, it affects every part of the economy – but that does not happen all at once. Learn more about how raising and lowering interest rates takes effect through the monetary policy transmission mechanism.2023-12-21T11:00:28+00:00enHow higher interest rates affect inflation2023-12-21Lessons learned and looking ahead
https://www.bankofcanada.ca/2023/12/lessons-learned-and-looking-ahead/
In his year-end remarks, Governor Tiff Macklem discusses how lessons learned from recent economic volatility are reshaping the way the Bank of Canada conducts economic analysis and communicates with the public.2023-12-15T12:25:50+00:00Lessons learned and looking ahead2023-12-15Tiff MacklemThe path to price stability
https://www.bankofcanada.ca/2023/12/path-price-stability/
Governor Tiff Macklem discusses how the economy will continue to adjust to higher interest rates in the year ahead, and outlines what Canadians can expect from the Bank of Canada.2023-12-15T12:25:29+00:00The path to price stability2023-12-15Tiff MacklemAn Overview of the Indigenous Economy in Canada
https://www.bankofcanada.ca/2023/10/staff-discussion-paper-2023-25/
Several measures suggest economic outcomes have improved for Indigenous Peoples in recent decades. Yet, institutional settings and gaps in infrastructure and financing continue to hinder their economic progress. Recent efforts have helped address some data gaps, and new institutions are helping Indigenous communities to overcome historic barriers to growth.2023-10-13T12:25:29+00:00enAn Overview of the Indigenous Economy in Canada2023-10-13Central bank researchDevelopment economicsFinancial servicesLabour marketsMonetary policy transmissionRegional economic developmentsStaff Discussion Paper 2023-25https://www.bankofcanada.ca/wp-content/uploads/2023/10/sdp2023-25.pdfAn Overview of the Indigenous Economy in CanadaAlex ChernoffCalista CheungOctober 2023EE0E01E02NN4N41N42OO4O43PP4P48