December 9, 2008 Bank of Canada lowers overnight rate target by 3/4 percentage point to 1 1/2 per cent Media Relations Ottawa, Ontario The Bank of Canada today announced that it is lowering its target for the overnight rate by three-quarters of a percentage point to 1 1/2 per cent. Content Type(s): Press, Press releases
December 9, 2008 Bank of Canada Announces Details of its 26 Day Term Loan Facility In accordance with the schedule of Term Loan Facility (TLF) auctions announced on 28 November, the Bank of Canada announced today that it will enter into a 26-day TLF transaction as follows: Content Type(s): Press, Market notices
December 9, 2008 Results of the 9 December 2008 Term PRA Transaction The results of today's term PRA operations are as follows: Content Type(s): Press, Market notices
December 9, 2008 Senior Loan Officer Survey - Fourth-Quarter 2008 Survey respondents reported a further widespread tightening in lending conditions. Respondents attributed the tightening of lending conditions mainly to concerns about the general economic outlook, although a worsening of industry-specific factors was also cited as a contributing cause. Content Type(s): Publications, Senior Loan Officer Survey
December 8, 2008 Bank of Canada Announces Details of its 28 Day Term PRA Transaction In accordance with the schedule of term purchase and resale agreement (PRA) auctions announced on 1 December, the Bank of Canada announced today that it will enter into a 28-day term PRA transaction as follows: Content Type(s): Press, Market notices
December 8, 2008 Bank of Canada to Sell Treasury Bills for Balance Sheet Management Purposes The Bank of Canada announced today it will sell $0.50 billion of its holdings of treasury bills. This transaction will partially offset the temporary increase in assets associated with the outstanding term liquidity facilities. Details of the transaction are as follows: Content Type(s): Press, Market notices
December 8, 2008 Results of the 8 December 2008 Term PRA Transaction for Private Sector Money Market Instruments The results of today's term PRA operations are as follows: Content Type(s): Press, Market notices
How Important Is Liquidity Risk for Sovereign Bond Risk Premia? Evidence from the London Stock Exchange Staff Working Paper 2008-47 Ron Alquist This paper uses the framework of arbitrage-pricing theory to study the relationship between liquidity risk and sovereign bond risk premia. The London Stock Exchange in the late 19th century is an ideal laboratory in which to test the proposition that liquidity risk affects the price of sovereign debt. Content Type(s): Staff research, Staff working papers Topic(s): Financial markets, International topics JEL Code(s): F, F2, F21, F3, F34, F36, G, G1, G12, G15
December 8, 2008 Bank of Canada Announces the Minimum Bid Rate for Today's Term PRA Facility for Private Sector Money Market Instruments The minimum bid rate for today's 13-day Term PRA Facility for Private Sector Money Market Instruments is 2.675%. Content Type(s): Press, Market notices
December 6, 2008 Beads to Bytes: Canada's National Currency Collection This volume explores money and the role it has played, and continues to play, in society, through the lens of Canada's National Currency Collection. The Collection is an extraordinary repository of coins, bank notes, and related paraphernalia from around the world. Soft cover, 124 pages (2008). Content Type(s): Publications, Books and monographs, Souvenir books Topic(s): Bank notes