Posts

• December 12, 2011

  Prolonged Period of Deleveraging Ahead, Says Bank of Canada Governor Mark Carney

  Media Relations Toronto, Ontario

  The world’s advanced economies are entering a prolonged period of deleveraging after several decades of accumulating debt, Bank of Canada Governor Mark Carney said today. “The direction may be clear, but the magnitude and abruptness of the process are not. It could be long and orderly or it could be sharp and chaotic.” “In general, […]

  Content Type(s): Press, Press releases
• December 8, 2011

  Strengthening Bank Management of Liquidity Risk: The Basel III Liquidity Standards

  Financial System Review - December 2011 Natasha Khan, Tamara Gomes

  Content Type(s): Publications, Financial System Review articles
• December 8, 2011

  Financial System Review - December 2011

  

  In this issue of the Financial System Review, the Bank of Canada’s Governing Council judges that the risks to the stability of Canada’s financial system are high and have increased markedly over the past six months, owing primarily to an escalation of the sovereign debt crisis in the euro area and a weaker global economic outlook.

  Erratum: The data for Chart 7 on page 8 were plotted incorrectly. See revised chart.

  Content Type(s): Publications, Financial Stability Report

• Effectiveness of Capital Controls in India: Evidence from the Offshore NDF Market

  Staff Working Paper 2011-29 Michael Hutchison, Gurnain Pasricha, Nirvikar Singh

  This paper examines the effectiveness of international capital controls in India over time by analyzing daily return differentials in the non-deliverable forward (NDF) markets using the self-exciting threshold autoregressive (SETAR) methodology.

  Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, International financial markets, International topics JEL Code(s): F, F3, F31, F32, G, G1, G15
• December 6, 2011

  Bank of Canada maintains overnight rate target at 1 per cent

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

  Content Type(s): Press, Press releases
• November 30, 2011

  Coordinated Central Bank Action to Address Pressures in Global Money Markets

  The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve and the Swiss National Bank are today announcing coordinated actions to enhance their capacity to provide liquidity support to the global financial system.

  Content Type(s): Press, Market notices
• November 29, 2011

  With a Little Help from Your Friends: The Virtues of Global Economic Coordination

  Remarks John Murray State University of New York at Plattsburgh Plattsburgh, New York

  Deputy Governor John Murray discusses the importance of global economic policy coordination in a speech at the State University of New York College in Plattsburgh, New York.

  Content Type(s): Press, Speeches and appearances, Remarks

• The Role of Time-Varying Price Elasticities in Accounting for Volatility Changes in the Crude Oil Market

  Staff Working Paper 2011-28 Christiane Baumeister, Gert Peersman

  There has been a systematic increase in the volatility of the real price of crude oil since 1986, followed by a decline in the volatility of oil production since the early 1990s. We explore reasons for this evolution. We show that a likely explanation of this empirical fact is that both the short-run price elasticities of oil demand and of oil supply have declined considerably since the second half of the 1980s.

  Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, International topics JEL Code(s): E, E3, E31, E32, Q, Q4, Q43

• Portfolio Considerations in Differentiated Product Purchases: An Application to the Japanese Automobile Market

  Staff Working Paper 2011-27 Naoki Wakamori

  Consumers often purchase more than one differentiated product, assembling a portfolio, which might potentially affect substitution patterns of demand and, as a consequence, oligopolistic firms’ pricing strategies.

  Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Market structure and pricing JEL Code(s): D, D4, L, L5, Q, Q5
• November 28, 2011

  Quarterly Financial Report - Third Quarter 2011

  Quarterly Financial Report - Third Quarter 2011 - For the period ended 30 September 2011

  Content Type(s): Publications, Quarterly Financial Report