Posts
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International Spillovers of Large-Scale Asset Purchases
This paper evaluates the international spillover effects of large-scale asset purchases (LSAPs) using a two-country dynamic stochastic general-equilibrium model with nominal and real rigidities, and portfolio balance effects. -
March 27, 2020
Rules Governing Advances to Financial Institutions
These Rules serve as policy guidelines and administrative procedures for financial institutions and financial market infrastructures seeking to obtain loans (advances) from the Bank of Canada. -
June 13, 2024
Exceptional policies for an exceptional time: From quantitative easing to quantitative tightening
Deputy Governor Sharon Kozicki discusses the use of exceptional monetary policy tools during the COVID-19 pandemic, as well as the Bank’s commitment to transparency and accountability. -
July 15, 2015
Monetary Policy Report – July 2015
Economic growth in Canada is projected to average just over 1 per cent in 2015 and about 2 1/2 per cent in 2016 and 2017. -
Perceived Inflation Persistence
The Survey of Professional Forecasters (SPF) has had vast influence on research related to better understanding expectation formation and the behaviour of macroeconomic agents. Inflation expectations, in particular, have received a great deal of attention, since they play a crucial role in determining real interest rates, the expectations-augmented Phillips curve and monetary policy. -
May 19, 2021
Understanding the consumer price index
The consumer price index (CPI) tracks how much the average Canadian household spends, and how that changes over time. At the Bank of Canada, we use it to target inflation. -
BoC–BoE Sovereign Default Database: What’s new in 2022?
The BoC–BoE database of sovereign debt defaults, published and updated annually by the Bank of Canada and the Bank of England, provides comprehensive estimates of stocks of government obligations in default. -
SME Failures Under Large Liquidity Shocks: An Application to the COVID-19 Crisis
We study the effects of financial frictions on firm exit when firms face large liquidity shocks. We develop a simple model of firm cost-minimization that introduces a financial friction that limits firms’ borrowing capacity to smooth temporary shocks to liquidity. -
May 31, 2018
A Progress Report on the Economy
Deputy Governor Sylvain Leduc discusses the issues that led Governing Council to hold the policy interest rate at 1.25 per cent in their May 30 decision.