May 31, 2018
Posts
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Noisy Monetary Policy
We introduce limited information in monetary policy. Agents receive signals from the central bank revealing new information (“news") about the future evolution of the policy rate before changes in the rate actually take place. However, the signal is disturbed by noise. -
Applying the Wage-Common to Canadian Provinces
As at the national level, available sources of hourly wage data for Canadian provinces sometimes send conflicting signals about wage growth. This note has two objectives. First, we develop a common measure of provincial wages (the provincial wage-common) to better capture the underlying wage pressures, reflecting the overall trend across all data sources. -
Bending the Curves: Wages and Inflation
As economic slack continues to be absorbed and the labour market tightens, wage growth and inflation could increase faster than expected, which would suggest convexity in their Phillips curves. This note investigates whether there is convexity in the Phillips curves for Canadian wage growth and inflation by testing different empirical approaches over the post-inflation-targeting period. -
May 30, 2018
Quarterly Financial Report - First Quarter 2018
Quarterly Financial Report - First Quarter 2018 - For the period ended March 31, 2018 -
May 30, 2018
Bank of Canada maintains overnight rate target at 1¼ per cent
The Bank of Canada today maintained its target for the overnight rate at 1¼ per cent. The Bank Rate is correspondingly 1½ per cent and the deposit rate is 1 per cent. -
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May 28, 2018
Bank of Canada to participate in Doors Open Ottawa 2018
On Saturday, June 2, we invite the public to join us at the Bank of Canada’s headquarters on Wellington Street for Doors Open Ottawa 2018. -
May 16, 2018
The (Mostly) Long and Short of Potential Output
Deputy Governor Lawrence Schembri discusses the importance of potential output to monetary policy, as well as policy challenges and opportunities in a world of low potential output growth. -
How do Canadian Corporate Bond Mutual Funds Meet Investor Redemptions?
When investors redeem their fund shares for cash, fixed-income fund managers can choose whether to draw on their liquid holdings or sell bonds in the secondary market. We analyze the liquidity-management decisions of Canadian corporate bond mutual funds, focusing on the strategies they use to meet investor redemptions.