Posts
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April 9, 2018
Business Outlook Survey - Spring 2018
Results of the spring Business Outlook Survey suggest that business sentiment continues to be positive, supported by healthy sales prospects. Due to recent strong demand, capacity and labour pressures are evident in most regions. -
April 9, 2018
Senior Loan Officer Survey - First Quarter of 2018
This quarter, the Bank will begin reporting on both household and business lending conditions in our expanded Senior Loan Officer Survey. Overall, household lending conditions tightened in the first quarter of 2018, driven by mortgage-related lending, while business lending conditions eased slightly. -
Could a Higher Inflation Target Enhance Macroeconomic Stability?
Recent international experience with the effective lower bound on nominal interest rates has rekindled interest in the benefits of inflation targets above 2 per cent. We evaluate whether an increase in the inflation target to 3 or 4 per cent could improve macroeconomic stability in the Canadian economy. -
Order Flow Segmentation, Liquidity and Price Discovery: The Role of Latency Delays
Latency delays—known as “speed bumps”—are an intentional slowing of order flow by exchanges. Supporters contend that delays protect market makers from high-frequency arbitrage, while opponents warn that delays promote “quote fading” by market makers. We construct a model of informed trading in a fragmented market, where one market operates a conventional order book and the other imposes a latency delay on market orders.
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