Posts
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Tractable Term Structure Models
We introduce a new framework that facilitates term structure modeling with both positive interest rates and flexible time-series dynamics but that is also tractable, meaning amenable to quick and robust estimation. -
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December 11, 2015
Results of the 22-day 11 December 2015 Term Repo Operation
Results of today's term repo operation. -
December 11, 2015
Bank of Canada Announces the Minimum Bid Rate for Today's Term Repo Operation
Bank of Canada Announces the Minimum Bid Rate for today's Term Repo Operation. -
December 10, 2015
Bank of Canada Announces Details of its Term Repo Operation
The Bank of Canada announced today that it will conduct a term repo operation. -
December 8, 2015
Bank of Canada updates framework for unconventional monetary policy measures
The Bank of Canada is applying lessons from the global financial crisis as it updates its framework for the use of unconventional monetary policy measures, Governor Stephen S. Poloz said. “We don’t need unconventional policies now, and we don’t expect to use them. However, it’s prudent to be prepared for every eventuality,” Governor Poloz said […] -
December 8, 2015
Prudent Preparation: The Evolution of Unconventional Monetary Policies
Governor Poloz speaks about the Bank’s updated framework for unconventional monetary policies. -
December 8, 2015
Framework for Conducting Monetary Policy at Low Interest Rates
This document outlines a series of monetary policy measures that could be deployed in a very low interest rate environment. -
Estimating Canada’s Effective Lower Bound
In 2009, the Bank of Canada set its effective lower bound (ELB) at 25 basis points (bps). Given the recent experience of Sweden, Denmark, Switzerland and the euro area with negative interest rates, we examine the economics of negative interest rates and suggest that cash storage costs are the source of a negative lower bound on interest rates.