April 16, 2024
Posts
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April 15, 2024
CARR to begin publishing data on the transition of CDOR based loans to CORRA
To facilitate the monitoring of the transition away from CDOR based loans to CORRA and Term CORRA, CARR will publish a monthly report on the aggregated outstanding amount of CDOR loans that have not transitioned to other benchmarks, as well as the volume of new loans, including any transitioned loans, referencing CORRA and/or Term CORRA. -
April 15, 2024
Collateral Infrastructure and Market Practices Advisory Group
CIMPA is an industry-wide working group created under CFIF to promote the well-functioning of the Canadian securities and financing markets. -
Unintended Consequences of the Home Affordable Refinance Program
We investigate the unintended consequences of the Home Affordable Refinance Program (HARP). Originally designed to help borrowers refinance after the 2008–09 global financial crisis, HARP inadvertently strengthened the market power of incumbent lenders by creating a cost advantage for them. Despite a 2013 policy rectifying this cost advantage, we still find significant welfare losses for borrowers. -
April 10, 2024
Bank of Canada Media Interview – The Globe and Mail
Tiff Macklem, Governor of the Bank of Canada, gave an interview to Mark Rendell of The Globe and Mail.
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April 10, 2024
Bank of Canada Media Interview – Midi info
Nicolas Vincent, Deputy Governor of the Bank of Canada, gave an interview to Radio-Canada’s Alec Castonguay. The interview will air today on Midi info.
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April 10, 2024
Bank of Canada maintains policy rate, continues quantitative tightening
The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. -
April 10, 2024
Monetary Policy Report – April 2024
Monetary policy is working to reduce inflationary pressures and inflation is coming down, although it will take more time to see if this progress proves durable. The Bank projects that inflation will stay around 3% into the second quarter of 2024, ease below 2.5% in the second half of the year and return to target in 2025. -
April 10, 2024
Bank of Canada interest rate announcement and release of the Monetary Policy Report
On Wednesday, April 10, 2024, the Bank of Canada will announce its decision on the target for the overnight rate. A press release will provide a brief explanation of the decision. The Bank will also publish its quarterly Monetary Policy Report (MPR) at the same time as the rate decision. -
April 10, 2024
Monetary Policy Report Press Conference Opening Statement
Governor Tiff Macklem discusses the Monetary Policy Report and the key issues involved in the Governing Council’s deliberations about the policy rate decision.