Posts

• January 30, 2015

  Research Update - January 2015

  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.

  Content Type(s): Staff research, Research newsletters
• January 29, 2015

  Planned Changes to Assets Eligible as Collateral under the Bank of Canada’s Standing Liquidity Facility (SLF)

  Following a regular review of the Bank’s policy in relation to Assets Eligible as Collateral under the Bank of Canada’s Standing Liquidity Facility (SLF), the Bank is planning to add certain Canadian-dollar denominated term asset-backed securities (ABS), including those backed by residential mortgages, to the list of eligible collateral, effective 31 March 2015.

  Content Type(s): Press, Market notices
• January 29, 2015

  Banking and Financial Statistics - January 2015

  Content Type(s): Publications, Historical: Banking and Financial Statistics

• The Efficiency of Private E-Money-Like Systems: The U.S. Experience with National Bank Notes

  Staff Working Paper 2015-3 Warren E. Weber

  Beginning in 1864, in the United States notes of national banks were the predominant medium of exchange. Each national bank issued its own notes. E-money shares many of the characteristics of these bank notes.

  Content Type(s): Staff research, Staff working papers Topic(s): Bank notes, Digital currencies and fintech, Financial services JEL Code(s): E, E4, E41, E42, E5, E58
• January 23, 2015

  Weekly Financial Statistics - 23 January 2015

  Content Type(s): Publications, Historical: Weekly Financial Statistics

• International Spillovers of Large-Scale Asset Purchases

  Staff Working Paper 2015-2 Sami Alpanda, Serdar Kabaca

  This paper evaluates the international spillover effects of large-scale asset purchases (LSAPs) using a two-country dynamic stochastic general-equilibrium model with nominal and real rigidities, and portfolio balance effects.

  Content Type(s): Staff research, Staff working papers Topic(s): Economic models, International topics, Monetary policy transmission JEL Code(s): E, E5, E52, F, F4, F41
• January 21, 2015

  Release of the Monetary Policy Report

  Opening statement Stephen S. Poloz Ottawa, Ontario

  Press conference following the release of the Monetary Policy Report.

  Content Type(s): Press, Speeches and appearances, Opening statements Topic(s): Inflation and prices, Interest rates, Monetary policy, Monetary policy implementation, Recent economic and financial developments, Regional economic developments
• January 21, 2015

  Bank of Canada lowers overnight rate target to 3/4 per cent

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of one percentage point to 3/4 per cent. The Bank Rate is correspondingly 1 per cent and the deposit rate is 1/2 per cent.

  Content Type(s): Press, Press releases
• January 21, 2015

  Monetary Policy Report – January 2015

  

  Economic growth in Canada is expected to average 2.1 per cent in 2015 and 2.4 per cent in 2016, with a return to full capacity around the end of 2016.

  Content Type(s): Publications, Monetary Policy Report

• Measuring Potential Output at the Bank of Canada: The Extended Multivariate Filter and the Integrated Framework

  Staff Discussion Paper 2015-1 Lise Pichette, Pierre St-Amant, Ben Tomlin, Karine Anoma

  Estimating potential output and the output gap - the difference between actual output and its potential - is important for the proper conduct of monetary policy. However, the measurement and interpretation of potential output, and hence the output gap, is fraught with uncertainty, since it is unobservable.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Economic models, Inflation and prices, Labour markets, Productivity JEL Code(s): E, E0, E3, E31, E5, E52