July 17, 2013
Release of the Monetary Policy Report
Press conference following the release of the Monetary Policy Report.
Uncategorized
-
-
July 17, 2013
Bank of Canada maintains overnight rate target at 1 per cent
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. -
July 17, 2013
Monetary Policy Report – July 2013
Following growth of 1.7 per cent in 2012, the Canadian economy is expected to grow by 1.8 per cent in 2013 and 2.7 percent in 2014 and 2015, and to reach full capacity in mid-2015, as anticipated in the April Report. -
-
The Threat of Counterfeiting in Competitive Search Equilibrium
Recent studies in monetary theory show that if buyers can use lotteries to signal the quality of bank notes, counterfeiting does not occur in a pooling equilibrium. In this paper, I investigate the robustness of this non-existence result by considering an alternative trading mechanism. -
Why Do Emerging Markets Liberalize Capital Outflow Controls? Fiscal versus Net Capital Flow Concerns
In this paper, we provide empirical evidence on the factors that motivated emerging economies to change their capital outflow controls in recent decades. Liberalization of capital outflow controls can allow emerging-market economies (EMEs) to reduce net capital inflow (NKI) pressures, but may cost their governments the fiscal revenues that external financial repression generates. -
June 30, 2013
Research Update - June 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. -
June 26, 2013
Shedding Light on Shadow Banking
Deputy Governor Tim Lane will discuss the importance of shadow banking, its fragilities, and reform efforts underway to make it more resilient. -
Money Market Rates and Retail Interest Regulation in China: The Disconnect between Interbank and Retail Credit Conditions
Interest rates in China are composed of a mix of both market-determined interest rates (interbank rates and bond yields), and regulated interest rates (retail lending and deposit rates), reflecting China’s gradual process of interest rate liberalization. -
June 19, 2013
Reconstruction: Rebuilding Business Confidence in Canada
Bank of Canada Governor Stephen S. Poloz discusses the structural damage to the Canadian economy caused by the crisis, and the need to rebuild Canada’s economic capacity and strengthen business confidence.