October 9, 2015
Uncategorized
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The Optimal Level of the Inflation Target: A Selective Review of the Literature and Outstanding Issues
Bank of Canada research done prior to the most recent renewal of the inflation-control agreement in 2011 concluded that the benefits associated with a target below 2 per cent were insufficient to justify the increased risk of being constrained by the zero lower bound (ZLB) on nominal interest rates. -
September 30, 2015
Completion of Public Consultations: Bank of Canada's Framework for Financial Market Operations and its Emergency Lending Assistance Policies
The Bank announces changes to its framework for financial market operations and emergency lending assistance policies and provides summaries of its public consultations. -
September 30, 2015
Preliminary Quarterly Term Repo Schedule
As announced today, the Bank of Canada is introducing 1- and 3-month Term Repo operations that will be built up to a target portfolio size of $7 billion to $10 billion over a 6 month implementation period. Below is the preliminary schedule and amounts for the October to December quarter. -
September 30, 2015
Changes to the Bank of Canada’s Framework for Financial Market Operations
On 5 May, 2015, the Bank of Canada published a consultation paper outlining proposed changes to its framework for financial market operations. Interested parties were invited to provide comments, and the Bank also held a series of meetings with industry associations and other stakeholders. Summary of comments received Respondents were supportive of the overall direction […] -
September 30, 2015
Consultations on the Bank of Canada Emergency Lending Policies: Summary and Responses to Comments Received
On 5 May 2015, the Bank of Canada published a consultation document entitled “Bank of Canada Emergency Lending Policies.” The consultation period ended on 4 July 2015. This page summarizes the comments received and the Bank of Canada’s responses to those comments. -
September 30, 2015
Research Update - September 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. -
On the Nexus of Monetary Policy and Financial Stability: Recent Developments and Research
Because financial and macroeconomic conditions are tightly interconnected, financial stability considerations are an important element of any monetary policy framework. Yet, the circumstances under which it would be appropriate for the Bank to use monetary policy to lean against financial risks need to be more fully specified (Côté 2014).