December 6, 2013
Posts
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December 5, 2013
Senior Deputy Governor Tiff Macklem will leave the Bank in May 2014
Senior Deputy Governor Tiff Macklem has announced that he will resign from the Bank of Canada next spring to become Dean of University of Toronto’s Rotman School of Management. -
December 4, 2013
Bank of Canada maintains overnight rate target at 1 per cent
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. -
November 30, 2013
Research Update - November 2013
This monthly newsletter features the latest research publications by Bank of Canada economists including external publications and working papers published on the Bank of Canada’s website. -
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Expectations and Monetary Policy: Experimental Evidence
The effectiveness of monetary policy depends, to a large extent, on market expectations of its future actions. In a standard New Keynesian business-cycle model with rational expectations, systematic monetary policy reduces the variance of inflation and the output gap by at least two-thirds. -
Perceived Inflation Persistence
The Survey of Professional Forecasters (SPF) has had vast influence on research related to better understanding expectation formation and the behaviour of macroeconomic agents. Inflation expectations, in particular, have received a great deal of attention, since they play a crucial role in determining real interest rates, the expectations-augmented Phillips curve and monetary policy.