Uncategorized

• March 27, 2020

  UPDATED: Bank of Canada to Introduce a Commercial Paper Purchase Program

  In order to support the continuous functioning of financial markets, the Bank of Canada is announcing the Commercial Paper Purchase Program (CPPP).

  Content Type(s): Press, Market notices Source(s): Commercial Paper Purchase Program
• March 27, 2020

  Operational details for the secondary market purchases of Government of Canada securities

  As announced on March 27 2020, the Bank of Canada is launching a program to purchase Government of Canada securities in the secondary market.

  Content Type(s): Press, Market notices Source(s): Government of Canada Bond Purchase Program
• March 27, 2020

  Press Conference Opening Statement – March 27, 2020

  Opening statement Stephen S. Poloz Ottawa, Ontario

  This unscheduled rate decision brings the policy rate to its effective lower bound, to provide support to the Canadian financial system and to the economy during the COVID-19 pandemic.

  Content Type(s): Press, Speeches and appearances, Opening statements Research Topic(s): Coronavirus disease (COVID-19)
• March 27, 2020

  Bank of Canada lowers overnight rate target to ¼ percent

  Media Relations Ottawa, Ontario

  The Bank of Canada today lowered its target for the overnight rate by 50 basis points to ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. This unscheduled rate decision brings the policy rate to its effective lower bound and is intended to provide support to the Canadian financial system and the economy during the COVID-19 pandemic.

  Content Type(s): Press, Press releases
• March 26, 2020

  Results of today’s Provincial Money Market Purchase program

  As part of the Bank of Canada’s Provincial Money Market Purchase (PMMP) program, the Bank was allocated $121.1 million of provincial treasury bills and/or promissory notes.

  Content Type(s): Press, Market notices Source(s): Provincial Money Market Purchase Program
• March 26, 2020

  Results of today’s Canada Mortgage Bond purchase operation

  Today the Bank of Canada purchased $ 260,000,000 of Canada Mortgage Bonds in the secondary market.

  Content Type(s): Press, Market notices Source(s): Canada Mortgage Bond Purchase Program
• March 25, 2020

  Results of today’s Provincial Money Market Purchase program

  As part of the Bank of Canada’s Provincial Money Market Purchase (PMMP) program, the Bank was allocated $279.21 million of provincial treasury bills and/or promissory notes.

  Content Type(s): Press, Market notices Source(s): Provincial Money Market Purchase Program
• March 25, 2020

  Operational details for the upcoming Expansion of the Bank of Canada’s Bond Buyback Program

  Consistent with the announcement that the Bank of Canada (the Bank), acting as fiscal agent, will extend its buybacks across all benchmark maturity sectors, the Bank is announcing today the following operations for the next two weeks.

  Content Type(s): Press, Market notices

• Do Protectionist Trade Policies Integrate Domestic Markets? Evidence from the Canada-U.S. Softwood Lumber Dispute

  Staff Working Paper 2020-10 Jinggang Guo, Craig Johnston

  We consider the effects of protectionist trade policies on international and domestic market integration, using evidence from the long-standing softwood lumber trade dispute between Canada and the United States.

  Content Type(s): Staff research, Staff working papers Research Topic(s): International topics, Market structure and pricing, Trade integration JEL Code(s): F, F1, F13, Q, Q1, Q17

• Welfare Analysis of Equilibria With and Without Early Termination Fees in the US Wireless Industry

  Staff Working Paper 2020-9 Joseph Cullen, Nicolas Schutz, Oleksandr Shcherbakov

  The elimination of long-term contracts and early termination fees (ETFs) in the US wireless industry at the end of 2015 increased monthly service fees by 2 to 5 percent. Nevertheless, consumers are clearly better off without ETFs. While firms’ revenues from ETFs vanish, their profits from monthly fees increase. As a result, the overall effect on producer profits is less clear.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods, Firm dynamics, Market structure and pricing JEL Code(s): D, D2, D22, L, L1, L15, L9, L96