The Optimal Level of the Inflation Target: A Selective Review of the Literature and Outstanding Issues Staff Discussion Paper 2015-8 Oleksiy Kryvtsov, Rhys R. Mendes Bank of Canada research done prior to the most recent renewal of the inflation-control agreement in 2011 concluded that the benefits associated with a target below 2 per cent were insufficient to justify the increased risk of being constrained by the zero lower bound (ZLB) on nominal interest rates. Content Type(s): Staff research, Staff discussion papers Topic(s): Inflation targets, Inflation: costs and benefits, Monetary policy framework JEL Code(s): E, E5, E52, E58
September 30, 2015 Overnight repos View the latest results—and find key contacts and related notices.
September 30, 2015 Overnight reverse repos Access information about upcoming operations, results and reporting—and find key contacts and related notices.
September 30, 2015 Completion of Public Consultations: Bank of Canada's Framework for Financial Market Operations and its Emergency Lending Assistance Policies The Bank announces changes to its framework for financial market operations and emergency lending assistance policies and provides summaries of its public consultations. Content Type(s): Press, Market notices
September 30, 2015 Preliminary Quarterly Term Repo Schedule As announced today, the Bank of Canada is introducing 1- and 3-month Term Repo operations that will be built up to a target portfolio size of $7 billion to $10 billion over a 6 month implementation period. Below is the preliminary schedule and amounts for the October to December quarter. Content Type(s): Press, Market notices
September 30, 2015 Bank of Canada Margin Call Practice for Domestic Market Operations For transactions outstanding against securities purchased or sold under a term purchase and resale agreement, the Bank values the securities daily, and compares that value to the contract valuation to ensure the Bank is adequately protected.
September 30, 2015 Changes to the Bank of Canada’s Framework for Financial Market Operations On 5 May, 2015, the Bank of Canada published a consultation paper outlining proposed changes to its framework for financial market operations. Interested parties were invited to provide comments, and the Bank also held a series of meetings with industry associations and other stakeholders. Summary of comments received Respondents were supportive of the overall direction […]
September 30, 2015 Consultations on the Bank of Canada Emergency Lending Policies: Summary and Responses to Comments Received On 5 May 2015, the Bank of Canada published a consultation document entitled “Bank of Canada Emergency Lending Policies.” The consultation period ended on 4 July 2015. This page summarizes the comments received and the Bank of Canada’s responses to those comments.
September 30, 2015 Research Update - September 2015 This monthly newsletter features the latest research publications by Bank of Canada economists including external publications and working papers published on the Bank of Canada’s website. Content Type(s): Staff research, Research newsletters
September 29, 2015 Visiting Scholar Program This program provides outstanding scholars with an opportunity to work at the Bank of Canada.