Posts

• October 23, 2008

  Monetary Policy Report – October 2008

  

  Three major interrelated global developments are having a profound impact on the Canadian economy and making the outlook more uncertain than it was at the time of the July Monetary Policy Report Update.

  Content Type(s): Publications, Monetary Policy Report
• October 23, 2008

  Results of the 23 October 2008 Sale of Treasury Bills for Balance Sheet Management Purposes

  Results of the 23 October 2008 Sale of Treasury Bills.

  Content Type(s): Press, Market notices
• October 23, 2008

  Bank of Canada Announces Details of its Term PRA Facility for Private Sector Money Market Instruments

  The Bank of Canada strongly welcomes the decisive actions announced today by the U.S. authorities. These significant and timely measures are part of the implementation of the G7 Action Plan agreed last Friday.

  Content Type(s): Press, Market notices
• October 21, 2008

  Bank of Canada lowers overnight rate target by 1/4 percentage point to 2 1/4 per cent

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of a percentage point to 2 1/4 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 2 1/2 per cent.

  Content Type(s): Press, Press releases
• October 21, 2008

  Results of the 21 October 2008 Term PRA Transaction

  The results of today's term PRA operations are as follows:

  Content Type(s): Press, Market notices

• Are There Canada-U.S. Differences in SME Financing?

  Staff Working Paper 2008-41 Danny Leung, Césaire Meh, Yaz Terajima

  Previous surveys of Canadian and U.S. business owners suggest that access to financing in Canada may be more problematic than in the United States. Using the 2003 Survey of Small Business Financing in the United States and the 2004 Survey on Financing of Small and Medium Enterprises in Canada, this paper examines whether this perception can be better quantified.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial services JEL Code(s): C, C2, C21, G, G2, G21
• October 20, 2008

  Bank of Canada to Sell Treasury Bills for Balance Sheet Management Purposes

  The Bank of Canada announced today it will sell $0.55 billion of its holdings of treasury bills. This transaction will partially offset the temporary increase in assets associated with the term purchase and resale transactions announced today.

  Content Type(s): Press, Market notices
• October 20, 2008

  Bank of Canada Announces Details of its 91 Day Term PRA Transaction

  In accordance with the schedule of Term PRA auctions announced on 3 October, the Bank of Canada announced today that it will enter into a 91-day Purchase and Resale Agreement (PRA) transaction as follows:

  Content Type(s): Press, Market notices

• Price Level Targeting in a Small Open Economy with Financial Frictions: Welfare Analysis

  Staff Working Paper 2008-40 Ali Dib, Caterina Mendicino, Yahong Zhang

  How important are the benefits of low price-level uncertainty? This paper explores the desirability of price-level path targeting in an estimated DSGE model fit to Canadian data. The policy implications are based on social welfare evaluations.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial stability, Inflation and prices, Monetary policy framework JEL Code(s): E, E3, E31, E32, E5, E52
• October 17, 2008

  Bank of Canada Announces Further Details of its Term PRA Facility for Private Sector Money Market Instruments

  The Bank of Canada announced today further details of its temporary additional Term Purchase and Resale Agreement (PRA) facility for private sector money market instruments.

  Content Type(s): Press, Market notices