July 11, 2011
Publications
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July 11, 2011
Business Outlook Survey - Summer 2011
Businesses remain positive about the outlook for the next 12 months, despite more modest expectations for U.S. economic growth. Indicators of future sales and investment are moderately higher, and intentions to hire have become more widespread. -
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June 22, 2011
Financial System Review - June 2011
In this issue of the Financial System Review, the Bank of Canada’s Governing Council judges that, although the Canadian financial system is currently on a sound footing, risks to its stability remain elevated and have edged higher since December 2010.
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June 9, 2011
Annual Report 2010
In 2010, the economic recovery became firmly entrenched. The Bank’s Annual Report provides a Message from the Governor, highlights key achievements over the year, describes the Bank’s corporate governance, presents its financial statements, and discusses financial results.
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May 19, 2011
Bank of Canada Review - Spring 2011
This special issue of the Review, “Lessons from the Financial Crisis,” examines the recent research on the role of liquidity in the financial system and on the public policy responses that aimed to restore stability to the financial system during the crisis and to foster economic recovery.
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May 19, 2011
Understanding and Measuring Liquidity Risk: A Selection of Recent Research
During the recent financial crisis, one of the forces set in motion by the initial losses on subprime-mortgage loans was a significant decline in the market liquidity of assets and in the ability of financial institutions to obtain funding in wholesale markets. In this article, the authors summarize recent research that clarifies the role of liquidity in destabilizing the financial system and examine the implications of this research for the recently announced financial system reforms, including Basel III. -
May 19, 2011
Unconventional Monetary Policy: The International Experience with Central Bank Asset Purchases
As part of their policy response to the financial crisis of 2007–09, central banks introduced numerous unprecedented monetary policy measures to provide monetary easing. This article defines and documents these measures, focusing on central bank asset purchases and their impact on central bank balance sheets. It then discusses the challenges of identifying the effects of these measures and explores possible exit strategies. The potential costs of these policies are also analyzed, as well as the broader implications for monetary policy frameworks.