May 17, 2012
Posts
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May 17, 2012
On the Adjustment of the Global Economy
This article discusses three scenarios for the adjustment of the global economy. In a “baseline” scenario—which encompasses fiscal consolidation in major advanced economies, growth-friendly structural reforms in Europe and Japan, and greater exchange rate flexibility and reforms in the emerging-market economies of Asia to induce rotation of demand away from net exports—global current account imbalances […] -
May 17, 2012
Inflation Targeting: The Recent International Experience
In the years since the 2006 renewal of Canada’s inflation-control agreement, monetary policy regimes have faced significant shocks, including the global economic and financial crisis. This article reviews the recent experience with inflation targeting, including the debate about the appropriate role of monetary policy in maintaining financial stability. In the aftermath of the crisis, both […] -
May 17, 2012
Understanding Systemic Risk in the Banking Sector: A MacroFinancial Risk Assessment Framework
The MacroFinancial Risk Assessment Framework (MFRAF) models the interconnections between liquidity and solvency in a financial system, with multiple institutions linked through an interbank network. The MFRAF integrates funding liquidity risk as an endogenous outcome of the interactions between solvency risk and the liquidity profiles of banks, which is a complementary approach to the new […] -
May 17, 2012
Conference Summary: New Developments in Payments and Settlement
The Bank of Canada’s annual conference, held in November 2011, brought together leading researchers from universities, central banks and other institutions from around the world. Divided into four sessions plus two keynote addresses, the conference covered such topics as the use of cash and other means of payment in retail transactions, large-value payments systems, and […] -
The Impact of Retail Payment Innovations on Cash Usage
Many predict that innovations in retail payment may render cash obsolete. We investigate this possibility in the context of recent payment innovations such as contactless-credit and stored-value cards. -
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May 7, 2012
Monetary Policy Decision-Making at the Bank of Canada
Deputy Governor John Murray discusses monetary policy decision-making at the Bank of Canada. -
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May 2, 2012
Bank of Canada Unveils New $20 Note Design
Minister of Finance Jim Flaherty and Governor Mark Carney today unveiled the new and more secure $20 polymer bank note at the Bank of Canada’s head office, on Wellington Street in Ottawa.