Posts
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June 10, 2010
Bank of Canada Governor Mark Carney Outlines Core G-20 Agenda to Reduce Systemic Risk
G-20 leaders are working towards global reforms that will put the world’s financial system on a more solid footing, Bank of Canada Governor Mark Carney said today. -
June 10, 2010
The G-20’s Core Agenda to Reduce Systemic Risk
Given this failure, the G-20’s agenda to reshape the global financial system is comprehensive and radical. The coming weeks and months will be pivotal to its success. The time for debate and discussion is drawing to a close. Policymakers now need to decide and to implement. -
June 9, 2010
Crude Oil Futures: A Crystal Ball?
Based on recent research, this article discusses three ways that oil-futures prices can improve our understanding of current conditions and future prospects in the global market for crude oil. First, the response of the oil-futures curve can be used to identify the persistence of oil-price shocks and to obtain an indicator of the rate at which they will diminish. Second, the spread between the current futures price and the spot price of oil can be interpreted as an indicator of the precautionary demand for oil. Third, because oil-futures prices are volatile, forecasts of the future spot price of oil using futures prices should be supplemented with other information to improve their accuracy. -
Estimating the Structure of the Payment Network in the LVTS: An Application of Estimating Communities in Network Data
In the Canadian large value payment system an important goal is to understand how liquidity is transferred through the system and hence how efficient the system is in settling payments. Understanding the structure of the underlying network of relationships between participants in the payment system is a crucial step in achieving the goal. -
June 1, 2010
SPRA/SRAs
The Bank conducts Special Purchase and Resale Agreements (SPRAs) and Sale and Repurchase Agreements (SRAs) to implement its monetary policy framework in the LVTS environment. SPRAs and SRAs are used to reinforce the target overnight rate at the mid-point of the operating band. -
June 1, 2010
Bank of Canada increases overnight rate target to 1/2 per cent and re-establishes normal functioning of the overnight market
The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 1/2 per cent. -
June 1, 2010
Re-Establishment of the Standard Operating Framework for the Implementation of Monetary Policy
As part of the Bank of Canada's interest rate decision on 1 June 2010, the Bank will re-establish the standard operating framework for the implementation of monetary policy. -
May 26, 2010
Senate Committee on National Finance
At year-end 2009, there were 1.8 billion bank notes in circulation, with a total value of $55.5 billion – approximately $1,630 per Canadian. The Bank of Canada is not responsible for coins. Decisions on coinage rest with the federal government, in particular, the Department of Finance, and with the Royal Canadian Mint. -
Financial Stress, Monetary Policy, and Economic Activity
This paper examines empirically the impact of financial stress on the transmission of monetary policy shocks in Canada. The model used is a threshold vector autoregression in which a regime change occurs if financial stress conditions cross a critical threshold.