Posts
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March 15, 2010
Results of the 15 March 2010 Term PRA Transaction
The results of today's term PRA operations. -
March 15, 2010
Bank of Canada Announces Recipients of 2010 Fellowship and Governor's Awards
The Bank of Canada today announced that Professor Paul Beaudry of the University of British Columbia is the recipient of the Bank's Research Fellowship for 2010. -
March 12, 2010
Bank of Canada Announces Details of its Term PRA Operation
In accordance with the schedule of term purchase and resale agreement (PRA) auctions announced on 19 January (see schedule), the Bank of Canada announced today that it will conduct a term PRA operation. -
March 11, 2010
Bank of Canada: 75 Years Today
The Bank of Canada today is celebrating the 75th anniversary of the opening of its doors for business and to mark the occasion, Governor Mark Carney met with economics students from across Canada. -
March 11, 2010
Principles for Interesting Times
I would like to thank students from universities across Canada for joining me on this special day, the 75th anniversary of the Bank of Canada -
March 10, 2010
Bank of Canada announces Deputy Governor Appointment
Board of Directors of the Bank of Canada today announced the appointment of Jean Boivin as Deputy Governor and member of the Governing Council of the Bank effective 1 April. -
March 10, 2010
Bank of Canada announces retirement of Deputy Governor Pierre Duguay
The Bank of Canada today announced that Pierre Duguay, Deputy Governor, will retire from the Bank on 29 July 2010. -
March 9, 2010
Inflation Expectations and the Conduct of Monetary Policy: A Review of Recent Evidence and Experience
This article explores the role of inflation expectations in the conduct of monetary policy. It reviews the various measures of inflation expectations used by central banks, including surveys and market-based indicators, and considers their advantages and disadvantages. It examines the critical role of inflation expectations in the framework that central banks use to understand, forecast, and control inflation. It also looks at their role as an indicator of central bank credibility. The behaviour of inflation expectations over the past two years is analyzed and policy conclusions are offered. -
March 9, 2010
Monetary Policy Rules in an Uncertain Environment
This article examines recent research on the influence of various forms of economic uncertainty on the performance of different classes of monetary policy rules: from simple rules to fully optimal monetary policy under commitment. The authors explain why uncertainty matters in the design of monetary policy rules and provide quantitative examples from the recent literature. They also present results for several policy rules in ToTEM, the Bank of Canada's main model for projection and analysis, including rules that respond to price level, rather than to inflation.