Posts

• July 29, 2020

  Interim RPAC Meeting (July 29 and 30, 2020)

  Topics: Holding and safeguarding of end-user funds, operational risk

  Content Type(s): Meetings Source(s): Retail Payments Advisory Committee

• Is the stock market pricing in a V‑shaped recovery?

  Staff Analytical Note 2020-17 James Kyeong

  Major stock indexes have bounced back from their March 23 trough to about 10 percent below their peaks. However, stocks that are more sensitive to the business cycle have not performed as well during this market rally. This suggests that stock markets are pricing in a slower, shallower economic recovery.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Asset pricing, Financial markets JEL Code(s): E, E4, E44, G, G1, G12, G14

• Will exchange-traded funds shape the future of bond dealing?

  Staff Analytical Note 2020-16 Rohan Arora, Jean-Sébastien Fontaine, Corey Garriott, Guillaume Ouellet Leblanc

  Bond dealers have traditionally kept bonds in an inventory until clients buy them. But now, dealers have another way to access bonds for their clients: the exchange-traded fund. We discuss this new way to manage bond dealing and what it might mean for bond markets.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Financial markets, Financial stability, Market structure and pricing JEL Code(s): G, G1, G2, G20, G23
• July 27, 2020

  Operational details for upcoming secondary market purchases of Government of Canada securities (August 4-August 14)

  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).

  Content Type(s): Press, Market notices Source(s): Government of Canada Bond Purchase Program
• July 27, 2020

  CARR Meeting (July 27, 2020)

  Content Type(s): Meetings Source(s): Canadian Alternative Reference Rate Working Group
• July 21, 2020

  Bank of Canada announces changes to the amount of Government of Canada Treasury Bills acquired at auction

  The Bank’s short-term liquidity programs announced since March to improve market functioning are having their intended effect. Conditions in short-term funding markets have improved. In particular, strains in the Government of Canada Treasury Bill market have diminished significantly.

  Content Type(s): Press, Market notices
• July 21, 2020

  Bank of Canada announces changes to the Provincial Money Market Purchase (PMMP) program

  The Bank’s short-term liquidity programs announced since March to improve market functioning are having their intended effect. Conditions in short-term funding markets have improved. In particular, strains in the short-term provincial borrowing market have diminished significantly.

  Content Type(s): Press, Market notices Source(s): Provincial Money Market Purchase Program
• July 20, 2020

  Bank of Canada announces new securities repo operations

  In line with its objectives to support core funding markets and to foster the well-functioning of the Government of Canada securities market, the Bank of Canada is announcing the introduction of securities repo operations (SROs).

  Content Type(s): Press, Market notices Source(s): Securities Repo Operations

• Average is Good Enough: Average-inflation Targeting and the ELB

  Staff Working Paper 2020-31 Robert Amano, Stefano Gnocchi, Sylvain Leduc, Joel Wagner

  The Great Recession and current pandemic have focused attention on the constraint on nominal interest rates from the effective lower bound.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Economic models, Monetary policy framework JEL Code(s): E, E3, E31, E32, E5, E52
• July 15, 2020

  Monetary Policy Report Press Conference Opening Statement

  Opening statement Tiff Macklem Ottawa, Ontario

  Governor Tiff Macklem discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR.

  Content Type(s): Press, Speeches and appearances, Opening statements Topic(s): Coronavirus disease (COVID-19)