February 21, 2024
Posts
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How Do Agents Form Macroeconomic Expectations? Evidence from Inflation Uncertainty
The uncertainty regarding inflation that is observed in density forecasts of households and professionals helps macroeconomists understand the formation mechanism of inflation expectations. Shocks to inflation take time to be perceived by all agents in the economy, and such rigidity is lower in a high-inflation environment. -
February 14, 2024
Start date for the morning auction of Receiver General cash balances
The Bank of Canada (the “Bank”), in its role as fiscal agent for the Government of Canada, previously announced the government’s intention to reintroduce morning auctions of Receiver General (RG) cash balances. Today, the Bank is announcing that RG auctions will commence on February 21st, 2024, and be conducted daily at 9:15 am. -
February 14, 2024
Panel participation by Rhys R. Mendes, Deputy Governor of the Bank of Canada
On Wednesday, February 14, 2024, Rhys R. Mendes, Deputy Governor of the Bank of Canada, will participate in a panel discussion at the Lazaridis School of Business & Economics at Wilfrid Laurier University. -
February 8, 2024
Webpage for Government of Canada purchases of Canada Mortgage Bonds
The Bank of Canada is today launching a new webpage with details on the Government of Canada’s purchases of Canada Mortgage Bonds (CMBs). -
Central Bank Digital Currency and Banking Choices
To what extent does a central bank digital currency (CBDC) compete with bank deposits? To answer this question, we develop and estimate a structural model where each household chooses which financial institution to deposit their digital money with. -
February 7, 2024
Summary of Governing Council deliberations: Fixed announcement date of January 24, 2024
This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on January 24, 2024. -
February 7, 2024
Release of the Bank of Canada’s summary of deliberations
On Wednesday, February 7, 2024, the Bank of Canada will publish a summary of the deliberations that took place ahead of its interest rate decision on January 24, 2024. -
The Role of International Financial Integration in Monetary Policy Transmission
We propose an open-economy New Keynesian model with financial integration that allows financial intermediaries to hold foreign long-term bonds. We study the implications of financial integration on monetary policy transmission. Among various aspects of financial integration, the bond duration plays a major role. These results hold for conventional and unconventional monetary policies. -
February 6, 2024
Bank of Canada Media Interview – Le Devoir
Tiff Macklem, Governor of the Bank of Canada, gave an interview to Le Devoir.