June 13, 2024
Posts
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June 13, 2024
Reviewing our pandemic actions
Deputy Governor Sharon Kozicki talks about the importance of central bank transparency and accountability. She looks at the exceptional monetary policy measures the Bank of Canada used during the COVID-19 pandemic and analyzes their effectiveness. -
June 13, 2024
Exceptional policies for an exceptional time: From quantitative easing to quantitative tightening
Deputy Governor Sharon Kozicki discusses the use of exceptional monetary policy tools during the COVID-19 pandemic, as well as the Bank’s commitment to transparency and accountability. -
Sources of pandemic-era inflation in Canada: an application of the Bernanke and Blanchard model
We explore the drivers of the surge in inflation in Canada during the COVID-19 pandemic. This work is part of a joint effort by 11 central banks using the model developed by Bernanke and Blanchard (2023) to identify similarities and differences across economies. -
Assessing the Impact of the Bank of Canada’s Government Bond Purchases
In March 2020, the Bank of Canada implemented the Government of Canada Bond Purchase Program, eventually purchasing approximately $340 billion of government bonds. In this paper, we analyze the impact of this program on financial market prices and yields as well as on GDP and inflation. -
June 12, 2024
Panel participation by Tiff Macklem, Governor of the Bank of Canada
On Wednesday, June 12, 2024, Tiff Macklem, Governor of the Bank of Canada, will participate in a panel discussion at the Conference of Montreal 2024. -
June 12, 2024
Central banking: Navigating in a new world
Governor Tiff Macklem looks back on the lessons learned from post-pandemic inflation and discusses the challenges ahead. -
June 11, 2024
Changes to Assets Eligible as Collateral under the Bank of Canada’s Standing Liquidity Facility
The Bank of Canada is announcing the addition of Secured General Collateral Notes (SGC Notes) as eligible collateral under its Standing Liquidity Facility (SLF), with the intent to support the development of this new market. -
Saving after Retirement and Preferences for Residual Wealth
We estimate a model of households in Norway with bequest motives, health-dependent utility, and uncertain longevity and health. Our estimates imply strong bequest motives for households both with and without offspring. We interpret this as suggestive evidence that utility from residual wealth represents forces beyond an altruistic bequest motive. -
June 10, 2024
CARR provides guidance for CDOR-based loans, derivatives and securities that do not have a robust fallback in place for CDOR’s cessation post June 28, 2024
The Canadian Alternative Reference Rate working group (CARR) is providing guidance to market participants with respect to CDOR-linked loans, derivatives and securities that do not have adequate fallback language to address the cessation of CDOR following the final publication by Refinitiv Benchmark Services (UK) Limited on June 28, 2024 (the “Cessation Date”).