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The International Experience with Negative Policy Rates
A key issue in the renewal of the inflation-control agreement is the question of the appropriate level of the inflation target. Many observers have raised concerns that with the reduction in the neutral rate, and the experience of the recent financial crisis, the effective lower bound (ELB) is more likely to be binding in the future if inflation targets remain at 2 per cent. -
November 10, 2015
Results of the 28-day 10 November 2015 Term Repo Operation
Results of today's term repo operation. -
November 10, 2015
Bank of Canada Announces the Minimum Bid Rate for Today's Term Repo Operation
Bank of Canada Announces the Minimum Bid Rate for today's Term Repo Operation. -
November 9, 2015
Bank of Canada Announces Details of its Term Repo Operation
The Bank of Canada announced today that it will conduct a term repo operation. -
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Option Valuation with Observable Volatility and Jump Dynamics
Under very general conditions, the total quadratic variation of a jump-diffusion process can be decomposed into diffusive volatility and squared jump variation. We use this result to develop a new option valuation model in which the underlying asset price exhibits volatility and jump intensity dynamics. -
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November 4, 2015
Bank of Canada Announces Establishment of Canadian Fixed-Income Forum (CFIF)
In light of changes to market functioning since the financial crisis, the Bank of Canada has established a new senior level industry-wide forum to discuss developments in fixed-income market structure and functioning, market practices, and related policy issues. -
October 31, 2015
Research Update - October 2015
This monthly newsletter features the latest research publications by Bank of Canada economists including external publications and working papers published on the Bank of Canada’s website.