June 22, 2020
Posts
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June 22, 2020
Monetary policy in the context of COVID-19
Governor Tiff Macklem talks about the conduct of monetary policy in the context of COVID-19. -
Privacy in CBDC technology
Privacy is a key aspect of a potential central bank digital currency system. We outline different technical choices to enact various privacy models while complying with the appropriate regulations. We develop a framework to evaluate privacy models and list key risks and trade-offs in privacy design. -
June 18, 2020
Spending patterns in a pandemic
Deputy Governor Lawrence Schembri explains how household spending has changed because of COVID-19 and discusses why the Bank expects the recovery to have two phases. -
June 18, 2020
Living with limits: household behaviour in Canada in the time of COVID-19
Deputy Governor Lawrence Schembri explains how the COVID-19 pandemic has affected household spending and economic activity, and discusses what the recovery is expected to look like. -
June 16, 2020
Opening Statement before the House of Commons Standing Committee on Finance
Introduction Good afternoon, Chair and committee members. It is an honour for me to appear before you as the 10th Governor of the Bank of Canada. I look forward to working with parliamentarians over the next seven years through regular appearances before committees of the House and Senate. These are an important part of the […] -
June 15, 2020
Operational details for upcoming secondary market purchases of Government of Canada securities (June 22-July 3)
As previously announced, the Bank of Canada (the Bank) launched on April 1, 2020 a program to purchase Government of Canada securities in the secondary market – the Government Bond Purchase Program (GBPP). -
June 15, 2020
Bank of Canada becomes administrator of Canadian Overnight Repo Rate Average
The Bank of Canada is now the administrator of the Canadian Overnight Repo Rate Average (CORRA) and will post today the first rate calculated using an improved methodology. -
June 10, 2020
Our COVID-19 response: Keeping markets liquid
When the COVID-19 pandemic hit Canada, the Bank of Canada acted quickly. We needed to make sure the financial system worked well enough that credit could continue to flow. That meant addressing shortages of liquidity in financial markets—the backbone for lending and borrowing in the economy. -
Monetary Policy Independence and the Strength of the Global Financial Cycle
We propose a new strength measure of the global financial cycle by estimating a regime-switching factor model on cross-border equity flows for 61 countries. We then assess how the strength of the global financial cycle affects monetary policy independence, which is defined as the response of central banks' policy interest rates to exogenous changes in inflation.