April 9, 2009
Posts
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April 9, 2009
Bank of Canada Announces Details of its Term PRA for Private Sector Instruments Operation
In accordance with the schedule of term purchase and resale agreement (PRA) auctions for private sector instruments announced on 6 March, the Bank of Canada announced today that it will conduct a 28-day term PRA operation for private sector instruments as follows. -
April 9, 2009
Bank of Canada Announces Details of its Term PRA Operation
In accordance with the schedule of term purchase and resale agreement (PRA) auctions announced on 6 March, the Bank of Canada announced today that it will conduct a 28-day term PRA operation as follows. -
April 9, 2009
Results of the 9 April 2009 Sale of Treasury Bills for Balance Sheet Management Purposes
Results of the 9 April 2009 Sale of Treasury Bills for Balance Sheet Management Purposes. -
April 8, 2009
Price-Level Targeting and Stabilization Policy: A Review
This article reviews arguments in the literature for and against price-level targeting, focusing on its costs and benefits compared with inflation targeting. Benefits of price-level targeting include the effect on forward-looking inflation expectations; the ability to substitute for commitment by a central bank to its future policies; lessening forecast errors; better economic performance in response to real shocks because of lower wage indexation; and a reduction in the problem of the zero lower bound on nominal interest rates. -
April 7, 2009
Results of the 7 April 2009 Term PRA Transaction for Private Sector Instruments
The results of today's term PRA operations are as follows. -
April 7, 2009
Price-Level Uncertainty, Price-Level Targeting, and Nominal Debt Contracts
Many central banks around the world have embraced inflation targeting as a monetary policy framework. Interest is growing, however, in price-level targeting as an alternative. The choice of frameworks has important consequences for financial contracts, most of which are not fully indexed to the price level. Changes in the price level therefore lead to changes in the real value of contracts. -
April 7, 2009
Bank of Canada Announces the Minimum Bid Rate for Today's Term PRA Facility for Private Sector Instruments
The minimum bid rate for today's 85-day Term PRA Facility for Private Sector Instruments is 0.62%. -
April 6, 2009
Results of the 6 April 2009 Term PRA Transaction
The results of today's term PRA operations are as follows. -
April 6, 2009
Results for the 6 April 2009 Term Loan Facility
The results of today's TLF operation are as follows.