Monetary policy implementation

• May 25, 2017

  Upgrading the Payments Grid: The Payoffs Are Greater Than You Think

  Remarks Sylvain Leduc Payments Canada Toronto, Ontario

  Deputy Governor Sylvain Leduc discusses how upgrading Canada’s core payment systems will contribute to financial stability and help the Bank keep inflation on target.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Financial markets, Financial stability, Financial system regulation and policies, Monetary policy implementation, Payment clearing and settlement systems
• May 11, 2017

  Unconventional Monetary Policy: The Perspective of a Small Open Economy

  Bank of Canada Review - Spring 2017 Jean-Sébastien Fontaine, Lena Suchanek, Jing Yang

  How do unconventional monetary policies like quantitative easing and negative interest rates affect domestic financial conditions and the broader economy in small open econo-mies, such as Canada? These policies are effective in depreciating the exchange rate in small open economies, while lower interest rates are also passed through to the economy, albeit only partially. When conventional monetary policy is close to its limits, fiscal policy may be a more important complement to monetary policy in a small economy, particularly if global demand for safe assets compresses long-term interest rates.

  Content Type(s): Publications, Bank of Canada Review articles Topic(s): Interest rates, Monetary policy framework, Monetary policy implementation, Monetary policy transmission JEL Code(s): E, E5, E52, E58, E6, E61, E65