Uncategorized

• October 19, 2020

  CARR’s mandate expanded to include analysis of CDOR

  The Canadian Fixed Income Forum (CFIF) has expanded the mandate of the Canadian Alternative Reference Rate working group (CARR) to include an analysis of the Canadian Dollar Offered Rate (CDOR).

  Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
• October 19, 2020

  The Bank of Canada launches the CORRA Advisory Group

  Earlier this year, the Bank of Canada became the administrator of the Canadian Overnight Repo Rate Average (CORRA) and since June has published this Canadian interest rate benchmark on its website using an improved methodology.

  Content Type(s): Press, Market notices Source(s): CORRA Advisory Group
• October 19, 2020

  Operational details for upcoming secondary market purchases of Government of Canada securities (October 26-November 6)

  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
• October 19, 2020

  Backgrounder on the Business Outlook Survey question on wage growth

  Starting with the 2020 autumn survey, the results from a question on labour cost growth are being included in the Business Outlook Survey. This document describes the question and presents the correlations between the responses and various measures of wages and employment.

  Content Type(s): Background materials
• October 19, 2020

  Business Outlook Survey—Autumn 2020

  With many containment measures related to the COVID-19 pandemic being lifted, results from the autumn Business Outlook Survey suggest that business sentiment has improved but remains weak across all regions. Businesses expect the pace of the recovery in their sales to slow.

  Content Type(s): Publications, Business Outlook Survey
• October 19, 2020

  Canadian Survey of Consumer Expectations—Third Quarter of 2020

  The Canadian Survey of Consumer Expectations (CSCE) collects respondents’ views on inflation, the labour market and household finances. The survey for the third quarter of 2020 was conducted from August 17 to September 1, 2020. Reported COVID‑19 cases have risen in some provinces since the survey was conducted. The survey included questions, introduced in the previous quarter, on the impacts of COVID‑19 and the measures to contain its spread, along with new questions on how the pandemic is affecting households’ savings.

  Content Type(s): Publications, Canadian Survey of Consumer Expectations

• On Causal Networks of Financial Firms: Structural Identification via Non-parametric Heteroskedasticity

  Staff Working Paper 2020-42 Ruben Hipp

  Banks’ business interactions create a network of relationships that are hidden in the correlations of bank stock returns. But for policy interventions, we need causality to understand how the network changes. Thus, this paper looks for the causal network anticipated by investors.

  Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Financial markets, Financial stability JEL Code(s): C, C1, C3, C32, C5, C58, L, L1, L14
• October 15, 2020

  Bank of Canada announces changes to programs that support key financial markets

  As overall financial market conditions continue to improve in Canada, usage in several of the Bank of Canada’s programs that support the functioning of key financial markets has declined significantly.

  Content Type(s): Press, Market notices Source(s): Bankers’ Acceptance Purchase Facility, Canada Mortgage Bond Purchase Program, Term repo operations
• October 9, 2020

  Central banks and BIS publish first central bank digital currency (CBDC) report laying out key requirements

  Media Relations Ottawa, Ontario

  This joint press release announces the publication of a report identifying the foundational principles necessary for any publicly available central bank digital currencies to help central banks meet their public policy objectives.

  Content Type(s): Press, Press releases Topic(s): Digital currencies and fintech
• October 8, 2020

  COVID‑19 and the financial system

  Speech summary Tiff Macklem Global Risk Institute Toronto, Ontario

  Governor Tiff Macklem discusses financial risks from the COVID-19 pandemic that are affecting our economy and that could shape how well it recovers. He also talks about financial risks from climate change.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Climate change, Coronavirus disease (COVID-19), Financial services, Financial stability, Monetary policy