Posts

• Estimating Large-Dimensional Connectedness Tables: The Great Moderation Through the Lens of Sectoral Spillovers

  Staff Working Paper 2021-37 Felix Brunner, Ruben Hipp

  Understanding the size of sectoral links is crucial to predicting the impact of a crisis on the whole economy. We show that statistical learning techniques substantially outperform traditional estimation techniques when measuring large networks of these links.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Econometric and statistical methods JEL Code(s): C, C2, C22, C5, C52, E, E2, E23, E27
• July 31, 2021

  Research Update - July 2021

  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
• July 29, 2021

  Bank of Canada publishes its 2022 schedule for policy interest rate announcements, the release of the Monetary Policy Report and other major publications

  Media Relations Ottawa, Ontario

  The Bank of Canada today published its 2022 schedule for policy interest rate announcements and the release of the quarterly Monetary Policy Report. It also reconfirmed the scheduled interest rate announcement dates for the remainder of this year.

  Content Type(s): Press, Press releases
• July 28, 2021

  Bank of Canada appoints Ron Morrow as Executive Director – Retail Payments Supervision

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced the appointment of Ron Morrow as Executive Director – Retail Payments Supervision, effective August 9, 2021.

  Content Type(s): Press, Press releases Topic(s): Retail payments supervision
• July 27, 2021

  CFEC Releases Results of April 2021 Foreign Exchange Volume Survey

  The Canadian Foreign Exchange Committee (CFEC) released today the results of its April 2021 semi-annual survey of foreign exchange volumes in Canada.

  Content Type(s): Press, Market notices Source(s): Canadian Foreign Exchange Committee
• July 26, 2021

  Operational details for upcoming secondary market purchases of Government of Canada securities (August 3-13)

  As previously announced, the Bank of Canada (the Bank) launched on April 1, 2020 a program to purchase Government of Canada securities in the secondary market – the Government Bond Purchase Program (GBPP).

  Content Type(s): Press, Market notices Source(s): Government of Canada Bond Purchase Program
• July 26, 2021

  CARR Meeting (July 26, 2021)

  Content Type(s): Meetings Source(s): Canadian Alternative Reference Rate Working Group
• July 26, 2021

  Assets Eligible as Collateral under the Bank of Canada’s Standing Liquidity Facility

  The Bank of Canada (the Bank), through its Standing Liquidity Facility (SLF), provides access to liquidity to those institutions that participate directly in Lynx.

  Content Type(s): Collateral Policy Source(s): Standing Liquidity Facility

• Cash and COVID-19: The impact of the second wave in Canada

  Staff Discussion Paper 2021-12 Heng Chen, Walter Engert, Marie-Hélène Felt, Kim Huynh, Gradon Nicholls, Daneal O’Habib, Julia Zhu

  The COVID-19 pandemic significantly increased the demand for cash. Cash in circulation increased sharply from March through December 2020, particularly in the early months of this period. Although use of electronic methods of payment also increased significantly, cash use for payments remains high for low-value transactions and among certain demographic groups.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Bank notes, Central bank research, Coronavirus disease (COVID-19), Digital currencies and fintech, Econometric and statistical methods JEL Code(s): C, C1, C12, C9, E, E4, O, O5, O54

• Tariffs and the Exchange Rate: Evidence from Twitter

  Staff Working Paper 2021-36 Dmitry Matveev, Francisco Ruge-Murcia

  Do tariffs affect exchange rates? We look at President Trump’s tweets during talks on the North American Free Trade Agreement and find that anticipation of higher tariffs on imports from Canada and Mexico led to an appreciation of the US dollar relative to Canadian and Mexican currency.

  Content Type(s): Staff research, Staff working papers Topic(s): Exchange rates, Trade integration JEL Code(s): F, F1, F13, F3, F31