Posts

• June 14, 2022

  CARR extends Term CORRA consultation deadline to 30 June

  Reflecting a number of requests for additional time to respond to CARR’s Term CORRA consultation, CARR will now accept comments until June 30, 2022.

  Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
• June 14, 2022

  The Bank of Canada Museum announces recipients of new Award for Excellence in Teaching Economics

  The Bank of Canada Museum is honouring two outstanding educators with a new award that recognizes exemplary work in teaching students about the economy.

  Content Type(s): Press, Announcements
• June 9, 2022

  Government of Canada Cancels Ultra-Long Bond Issuance

  The Government of Canada has decided to cancel the issuance of its 1 December 2064 bond. As such, the previously announced auction on 16 June 2022 is suspended.

  Content Type(s): Press, Market notices
• June 9, 2022

  Release of the Financial System Review

  Opening statement Tiff Macklem, Carolyn Rogers Ottawa, Ontario

  Press conference following the release of the Financial System Review.

  Content Type(s): Press, Speeches and appearances, Opening statements Topic(s): Coronavirus disease (COVID-19), Financial stability, Monetary policy, Recent economic and financial developments
• June 9, 2022

  Financial System Review—2022

  

  Tiff Macklem, Carolyn Rogers, Timothy Lane, Lawrence L. Schembri, Paul Beaudry, Toni Gravelle, Sharon Kozicki

  The Canadian financial system remains resilient, but vulnerabilities have become more complex and risks have grown. The Bank is carefully watching households’ high levels of mortgage debt, as well as the risks associated with a price correction in Canada’s housing market.

  Content Type(s): Publications, Financial Stability Report

• Settlement Balances Deconstructed

  Staff Discussion Paper 2022-13 Parnell Chu, Grahame Johnson, Scott Kinnear, Karen McGuinness, Matthew McNeely

  Because of the COVID-19 pandemic, public interest in the Bank’s balance sheet and, more specifically, the size of settlement balances, has grown. This paper deconstructs the concept of settlement balances and provides some context on their history, current state and possible future evolution.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Central bank research, Coronavirus disease (COVID-19), Financial markets, Monetary policy implementation JEL Code(s): E, E5, E58, E59, E6, G, G0, G01
• June 7, 2022

  CORRA Advisory Group Meeting (June 7, 2022)

  Content Type(s): Meetings Source(s): CORRA Advisory Group

• Foreign Exchange Interventions: The Long and the Short of It

  Staff Working Paper 2022-25 Patrick Alexander, Sami Alpanda, Serdar Kabaca

  This paper studies the effects of foreign exchange (FX) interventions in a two-region model where governments issue both short- and long-term bonds. We find that the term premium channel dominates the trade balance channel in our calibrated model. As a result, the conventional beggar-thy-neighbor effects of interventions are overturned.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Exchange rate regimes, Exchange rates, Foreign reserves management, International financial markets, International topics JEL Code(s): F, F3, F31, F33, F4, F41
• June 6, 2022

  Understanding quantitative easing

  QE is a tool that encourages spending and investment—helping us to achieve our inflation target by stabilizing the economy.

  Content Type(s): Explainers Topic(s): Inflation targets, Monetary policy
• June 6, 2022

  Financial System Survey highlights—Spring 2022

  This article presents the key results from the spring 2022 Bank of Canada Financial System Survey, conducted between February 22 and March 18. The survey included a special section on the potential risks associated with the global normalization of monetary policy.

  Content Type(s): Publications, Financial System Survey