Uncategorized

• December 12, 2013

  Monetary Policy an Exercise in Risk Management, Says Bank of Canada Governor Stephen S. Poloz

  Media Relations Montréal, Quebec

  The financial crisis and the considerable uncertainty that has ensued are leading to a progressive redefinition of central banking, Bank of Canada Governor Stephen S. Poloz said today in a speech to the Canadian Club of Montréal. “We assess how risks could interact with each other. We gauge their potential impact. And we use judgment […]

  Content Type(s): Press, Press releases
• December 12, 2013

  Monetary Policy as Risk Management

  Remarks Stephen S. Poloz Canadian Club of Montreal Montréal, Quebec

  Governor Stephen S. Poloz discusses how recent experience is leading to a progressive redefinition of central banking.

  Content Type(s): Press, Speeches and appearances, Remarks
• December 5, 2013

  Senior Deputy Governor Tiff Macklem will leave the Bank in May 2014

  Media Relations Ottawa, Ontario

  Senior Deputy Governor Tiff Macklem has announced that he will resign from the Bank of Canada next spring to become Dean of University of Toronto’s Rotman School of Management.

  Content Type(s): Press, Press releases
• December 4, 2013

  Bank of Canada maintains overnight rate target at 1 per cent

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

  Content Type(s): Press, Press releases
• November 30, 2013

  Research Update - November 2013

  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.

  Content Type(s): Staff research, Research newsletters

• High-Frequency Real Economic Activity Indicator for Canada

  Staff Working Paper 2013-42 Gitanjali Kumar

  I construct a weekly measure of real economic activity in Canada. Based on the work of Aruoba et al. (2009), the indicator is extracted as an unobserved component underlying the co-movement of four monthly observed real macroeconomic variables - employment, manufacturing sales, retail sales and GDP.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Econometric and statistical methods JEL Code(s): C, C3, C38, E, E3, E32
• November 20, 2013

  Opening Statement before the Senate Standing Committee on Banking, Trade and Commerce

  Opening statement Stephen S. Poloz Senate Standing Committee on Banking, Trade and Commerce Ottawa, Ontario

  Thank you for the opportunity for Tiff and me to be with you today to discuss the October Monetary Policy Report, which the Bank published recently. The Bank aims to communicate our objectives openly and effectively and to stand accountable for our actions before Canadians. One of the best ways to do this is through […]

  Content Type(s): Press, Speeches and appearances, Opening statements
• November 19, 2013

  Price Puzzles and the Exchange Rate

  Remarks John Murray Mount Allison University Sackville, New Brunswick

  In his speech, Price Puzzles and the Exchange Rate, Deputy Governor John Murray discusses the exchange rate pass-through and how it affects prices of goods and services in Canada.

  Content Type(s): Press, Speeches and appearances, Remarks

• Sovereign Default and State-Contingent Debt

  Staff Discussion Paper 2013-3 Martin Brooke, Rhys R. Mendes, Alex Pienkowski, Eric Santor

  The Latin American debt crises in the 1980s and the Asian crisis in the late 1990s both provided impetus for reforming the framework for restructuring sovereign debt. In the late 1980s, the Brady plan established the importance of substantive debt relief in addressing some crises.

  Content Type(s): Staff research, Staff discussion papers Topic(s): International financial markets, International topics JEL Code(s): F, F3, F34

• Central Bank Communications Before, During and After the Crisis: From Open-Market Operations to Open-Mouth Policy

  Staff Working Paper 2013-41 Ianthi Vayid

  The days when secrecy and opacity were the bywords of central banking are gone. The advent of inflation targeting in the early 1990s acted as the catalyst for enhanced transparency and communications in the conduct of monetary policy.

  Content Type(s): Staff research, Staff working papers Topic(s): Central bank research, Credibility, Financial stability, Inflation targets, Monetary policy framework, Monetary policy implementation JEL Code(s): E, E5, E52, E58