December 13, 2007
Results of the 13 December 2007 Term PRA Transaction
The results of today's term PRA operations
Posts
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December 12, 2007
Expansion of List of Securities Eligible as Collateral for Use Under Bank of Canada Standing Liquidity Facility
Under its Standing Liquidity Facility (SLF), the Bank of Canada is prepared to provide liquidity on a daily basis to financial institutions that participate directly in the payments systems operated by the Canadian Payments Association. Loans made by the Bank of Canada must be fully collateralized. -
December 12, 2007
Bank of Canada Temporarily Expands List of Securities Eligible for Term PRA Transactions
Today, the Bank of Canada, the Bank of England, the European Central Bank, the Federal Reserve, and the Swiss National Bank are announcing measures designed to address elevated pressures in short-term funding markets. -
December 11, 2007
The Zero Bound on Nominal Interest Rates: Implications for Monetary Policy
One of the most important factors that must be considered if countries are thinking about lowering the target level of inflation much below 2 per cent is the zero interest bound. Targeting inflation rates that are too low, the authors note, may restrict the ability of monetary policy to respond to economic shocks by limiting the amount by which interest rates can be eased. -
December 10, 2007
Inflation Targeting, Price-Level Targeting, and Fluctuations in Canada's Terms of Trade
Coletti and Lalonde compare inflation targeting and price-level targeting in the context of a small open economy subject to sizable terms-of-trade shocks. The authors summarize recent research that compares the ability of price-level targeting and inflation targeting to stabilize the macroeconomy when confronted with shocks similar to those experienced by Canada in recent years. Their preliminary results suggest that price-level targeting may represent a feasible alternative to traditional inflation targeting. Their article also provides insight into the direction of current research in this area at the Bank. -
December 10, 2007
Reflections on Developments in the Canadian Financial System
It has become a tradition that I deliver a speech late in the year on issues related to the financial system. When I say "financial system," I mean financial institutions and markets, together with the clearing and settlement systems through which financial assets flow. -
December 10, 2007
Governor Dodge Says Transparency Essential for Financial Market Efficiency
Recent market events have shown how important it is to have appropriate levels of transparency and disclosure of information for financial markets to function well, Bank of Canada Governor David Dodge said today. -
December 6, 2007
More Than Money: Architecture and Art at the Bank of Canada
This volume will take you on a tour of the head office complex, highlighting interesting features of architecture, interior design, and decoration, as well as elements of restoration and preservation. It also features pieces from the Bank's art collection. Soft cover, 128 pages (2007).
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December 6, 2007
Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce
In Canada, we were looking for weaker economic growth in the fourth quarter of this year and the first half of 2008, but some strengthening thereafter. As you can see from Table 2, we were expecting continued strong final domestic demand throughout the projection period, but considerably weaker net exports. -
December 5, 2007
Opening Statement before the House of Commons Standing Committee on Finance
Over time, it has become clear that the best contribution monetary policy can make to the promotion of the economic and financial welfare of Canada is to keep inflation low, stable, and predictable.