December 21, 2007 Developments in Processing Over-the-Counter Derivatives Financial System Review - December 2007 Natasha Khan Content Type(s): Publications, Financial System Review articles
December 21, 2007 Financial System Review - December 2007 The financial system makes an important contribution to the welfare of all Canadians. The ability of households and firms to confidently hold and transfer financial assets is one of the fundamental building blocks of the Canadian economy. Content Type(s): Publications, Financial Stability Report
December 18, 2007 Nominations Invited for the Bank of Canada's Law Enforcement Award of Excellence for Counterfeit Deterrence Media Relations Ottawa, Ontario Beginning today, the Bank of Canada is inviting nominations for the fifth annual Law Enforcement Award of Excellence for Counterfeit Deterrence. This award recognizes police officers, employees, or volunteers of a Canadian law-enforcement agency who have demonstrated outstanding commitment and initiative in counterfeiting deterrence and prevention. Content Type(s): Press, Press releases
December 18, 2007 Results of the 18 December 2007 Term PRA Transaction The results of today's term PRA operations Content Type(s): Press, Market notices
December 17, 2007 Bank of Canada provides final details of 18 December Term PRA operation announced 12 December Today, the Bank of Canada provided the final details of the 18 December term purchase and resale agreement (term PRA) operation Content Type(s): Press, Market notices
December 15, 2007 Introduction: Recent Research on Inflation Targeting Bank of Canada Review - Winter 2007-2008 John Murray The inflation targeting framework that Canada introduced in 1991 has played a significant role in the exceptional economic performance that the country has experienced in recent years. Understanding the factors that have contributed to the success of the current inflation-targeting framework, and investigating the various ways in which it might be improved in the future, are an important part of the Bank of Canada's medium-term research program. Content Type(s): Publications, Bank of Canada Review articles
December 15, 2007 Bank of Canada response to announcement by Pan-Canadian Investors Committee The Bank of Canada is pleased that substantial progress towards establishing a broad framework for the restructuring of the third-party structured asset-backed commercial paper (ABCP) under the Montreal Accord has been made by the parties involved. Content Type(s): Press, Market notices
December 14, 2007 The Costs of Inflation in New Keynesian Models Bank of Canada Review - Winter 2007-2008 Steve Ambler Ambler describes three new channels through which inflation affects economic welfare in New Keynesian models. These channels were absent from traditional analyses and may have caused researchers to underestimate the costs associated with variable inflation, even at relatively low levels of inflation. The article concludes with a preliminary assessment of the quantitative importance of the new channels and their significance for monetary policy. Content Type(s): Publications, Bank of Canada Review articles Topic(s): Inflation: costs and benefits, Monetary policy framework
December 13, 2007 Central Bank Performance under Inflation Targeting Bank of Canada Review - Winter 2007-2008 Marc-André Gosselin Gosselin examines and reports on the various factors that contribute to successful inflation targeting. Using a panel of 21 inflation-targeting countries over the period 1990Q1-2007Q2, Gosselin finds that the ability of central banks to hit their targets varies considerably. Some of these differences can be explained by exchange rate fluctuations, fiscal deficits, and differences in financial development. Others are explained by differences in the targeting framework itself and the manner in which it is implemented. Content Type(s): Publications, Bank of Canada Review articles Topic(s): Central bank research, Inflation targets, Monetary policy framework
December 13, 2007 Results of the 13 December 2007 Term PRA Transaction The results of today's term PRA operations Content Type(s): Press, Market notices