August 13, 2020 Understanding inflation targeting At the Bank of Canada, we aim to keep inflation close to 2 percent. Content Type(s): Explainers Topic(s): Inflation and prices, Inflation targets
July 27, 2020 Operational details for upcoming secondary market purchases of Government of Canada securities (August 4-August 14) As previously announced, the Bank of Canada (the Bank) launched on April 1, 2020 a program to purchase Government of Canada securities in the secondary market – the Government Bond Purchase Program (GBPP). Content Type(s): Press, Market notices Source(s): Government of Canada Bond Purchase Program
July 21, 2020 Bank of Canada announces changes to the amount of Government of Canada Treasury Bills acquired at auction The Bank’s short-term liquidity programs announced since March to improve market functioning are having their intended effect. Conditions in short-term funding markets have improved. In particular, strains in the Government of Canada Treasury Bill market have diminished significantly. Content Type(s): Press, Market notices
July 21, 2020 Bank of Canada announces changes to the Provincial Money Market Purchase (PMMP) program The Bank’s short-term liquidity programs announced since March to improve market functioning are having their intended effect. Conditions in short-term funding markets have improved. In particular, strains in the short-term provincial borrowing market have diminished significantly. Content Type(s): Press, Market notices Source(s): Provincial Money Market Purchase Program
January 25, 2021 CARR Meeting (January 25, 2021) Content Type(s): Meetings Source(s): Canadian Alternative Reference Rate Working Group
January 11, 2021 Operational details for upcoming secondary market purchases of Government of Canada securities (January 18-January 28) As previously announced, the Bank of Canada (the Bank) launched on April 1, 2020 a program to purchase Government of Canada securities in the secondary market – the Government Bond Purchase Program (GBPP). Content Type(s): Press, Market notices Source(s): Government of Canada Bond Purchase Program
Consumer Credit with Over-optimistic Borrowers Staff Working Paper 2020-57 Florian Exler, Igor Livshits, James (Jim) C. MacGee, Michèle Tertilt When lenders cannot directly identify behavioural and rational borrowers, they use type scoring to track the likelihood of a borrower’s type. This leads to the partial pooling of borrowers, which results in rational borrowers subsidizing borrowing costs for behavioural borrowers. This, in turn, reduces the effectiveness of regulatory policies that target mistakes by behavioural borrowers. Content Type(s): Staff research, Staff working papers Topic(s): Credit and credit aggregates, Credit risk management, Financial system regulation and policies JEL Code(s): E, E2, E21, E4, E49, G, G1, G18, K, K3, K35
June 6, 2022 Understanding quantitative easing QE is a tool that encourages spending and investment—helping us to achieve our inflation target by stabilizing the economy. Content Type(s): Explainers Topic(s): Inflation targets, Monetary policy
June 3, 2020 Bank of Canada Announces Changes to Term Repo Operations and Bankers’ Acceptance Purchase Facility With substantial improvements in short-term funding conditions recently, as well as reduced participation since mid-April in the Bank’s extended Term Repo and Bankers’ Acceptance Purchase Facility (BAPF) operations, the Bank is making amendments to these programs. Content Type(s): Press, Market notices Source(s): Bankers’ Acceptance Purchase Facility, Term repo operations
June 1, 2020 Operational details for upcoming secondary market purchases of Government of Canada securities (June 8-June 19) As previously announced, the Bank of Canada (the Bank) launched on April 1, 2020 a program to purchase Government of Canada securities in the secondary market – the Government Bond Purchase Program (GBPP). Content Type(s): Press, Market notices Source(s): Government of Canada Bond Purchase Program