October 23, 2008
Uncategorized
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October 21, 2008
Bank of Canada lowers overnight rate target by 1/4 percentage point to 2 1/4 per cent
The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of a percentage point to 2 1/4 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 2 1/2 per cent. -
Are There Canada-U.S. Differences in SME Financing?
Previous surveys of Canadian and U.S. business owners suggest that access to financing in Canada may be more problematic than in the United States. Using the 2003 Survey of Small Business Financing in the United States and the 2004 Survey on Financing of Small and Medium Enterprises in Canada, this paper examines whether this perception can be better quantified. -
October 20, 2008
Bank of Canada to Sell Treasury Bills for Balance Sheet Management Purposes
The Bank of Canada announced today it will sell $0.55 billion of its holdings of treasury bills. This transaction will partially offset the temporary increase in assets associated with the term purchase and resale transactions announced today. -
October 20, 2008
Bank of Canada Announces Details of its 91 Day Term PRA Transaction
In accordance with the schedule of Term PRA auctions announced on 3 October, the Bank of Canada announced today that it will enter into a 91-day Purchase and Resale Agreement (PRA) transaction as follows: -
Price Level Targeting in a Small Open Economy with Financial Frictions: Welfare Analysis
How important are the benefits of low price-level uncertainty? This paper explores the desirability of price-level path targeting in an estimated DSGE model fit to Canadian data. The policy implications are based on social welfare evaluations. -
October 17, 2008
Bank of Canada Announces Further Details of its Term PRA Facility for Private Sector Money Market Instruments
The Bank of Canada announced today further details of its temporary additional Term Purchase and Resale Agreement (PRA) facility for private sector money market instruments.
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October 17, 2008
Bank of Canada Initiative to Allow Substitution of Canadian-Dollar Non-Mortgage Loan Portfolio for Current LVTS Collateral
This note briefly explains the Bank of Canada initiative to allow Large Value Transfer System (LVTS) participants to substitute their non-mortgage loan portfolio for current LVTS collateral, which is composed of marketable securities that have collateral value outside of the LVTS. -
Import Price Dynamics in Major Advanced Economies and Heterogeneity in Exchange Rate Pass-Through
This paper aims at showing heterogeneity in the degree of exchange rate pass-through to import prices in major advanced economies at three different levels: 1) across destination markets; 2) across types of exporters (distinguishing developed economy from emerging economy exporters); and 3) over time. -
October 15, 2008
Bank of Canada to Sell Treasury Bills for Balance Sheet Management Purposes
The Bank of Canada announced today it will sell $1.8 billion of its holdings of treasury bills. This transaction will partially offset the temporary increase in assets associated with the term purchase and resale transactions announced yesterday.