Posts
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March 6, 2010
By All Accounts
By All Accounts is the fifth and final book in the Bank's souvenir history series. This volume presents a portrait of the Bank from the perspective of outside observers, showing how Canadians have perceived the performance of their central bank over the decades through the eyes of those who monitor its work on the public's behalf.
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March 4, 2010
Summary of Comments - 2010-11 Debt Strategy Consultations
Today, a Summary of Comments on the Debt Strategy Consultations for 2010-11 is being published on the Bank of Canada's website in conjunction with the release of the government's Debt Management Strategy for 2010-11 on the Department of Finance's website. -
March 4, 2010
Bank of Canada to Issue New Bank Notes
As announced in today's federal budget, in 2011 the Bank of Canada will begin to issue a new series of bank notes printed on a polymer material. -
March 2, 2010
Bank of Canada maintains overnight rate target at 1/4 per cent and reiterates conditional commitment to hold current policy rate until the end of the second quarter of 2010
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. -
Price Level Targeting: What Is the Right Price?
Various papers have suggested that Price-Level targeting is a welfare improving policy relative to Inflation targeting. From a practical standpoint, this raises an important yet unanswered question: What is the optimal price index to target? -
February 26, 2010
Bank of Canada announces appointment of Tiff Macklem as Senior Deputy Governor
The Board of Directors of the Bank of Canada today announced that Tiff Macklem has been appointed Senior Deputy Governor for a term of seven years beginning 1 July, 2010. -
Time Variation in Okun's Law: A Canada and U.S. Comparison
This article investigates the stability of Okun's law for Canada and the United States using a time varying parameter approach. Time variation is modeled as driftless random walks and is estimated using the median unbiased estimator approach developed by Stock and Watson (1998). -
Assembling a Real-Financial Micro-Dataset for Canadian Households
The lack of consolidated Canadian micro data on household balance sheets and expenditures has been an important impediment to empirical research into real-financial linkages in the Canadian household sector. Our paper attempts to fill this data gap by merging household balance sheet data from the Canadian Financial Monitor survey with household expenditure data from the Survey of Household Spending. -
What Drives Exchange Rates? New Evidence from a Panel of U.S. Dollar Bilateral Exchange Rates
We use a novel approach to identify economic developments that drive exchange rates in the long run. Using a panel of six quarterly U.S. bilateral real exchange rates – Australia, Canada, the euro, Japan, New Zealand and the United Kingdom – over the 1980-2007 period, a dynamic factor model points to two common factors.