March 30, 2004 Debt Strategy 2004/05 Consultations: Summary of Comments In January 2004, officials from the Department of Finance and the Bank of Canada sought views from Government Securities Distributors and institutional investors on a number of issues related to the design and operation of the domestic debt program.
January 26, 2021 CFIF Meeting (January 26, 2021) Content Type(s): Meetings Source(s): Canadian Fixed-Income Forum
January 22, 2021 Bank of Canada announces changes to securities repo operations In line with its objectives to support core funding markets and to foster the well-functioning of the Government of Canada securities market, the Bank of Canada is announcing changes to securities repo operations (SROs). Content Type(s): Press, Market notices Source(s): Securities Repo Operations
Qualitative Field Research in Monetary Policy Making Staff Discussion Paper 2021-1 Chris D'Souza, Jane Voll Central banks conduct research involving in-depth interviews with external parties—but little is known about how this information affects monetary policy. We address this gap by analyzing open-ended interviews with senior central bank economic and policy staff who work closely with policy decision-makers. Content Type(s): Staff research, Staff discussion papers Topic(s): Business fluctuations and cycles, Monetary policy, Monetary policy and uncertainty JEL Code(s): C, C8, C83, E, E3, E37, E5, E52
January 20, 2021 Monetary Policy Report Press Conference Opening Statement Opening statement Tiff Macklem Ottawa, Ontario Governor Tiff Macklem discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR. Content Type(s): Press, Speeches and appearances, Opening statements
January 11, 2021 Backgrounder on Business Outlook Survey data by region, sector and firm size Every quarter, the Bank of Canada surveys about 100 firms and publishes the resulting narrative and related data in the Business Outlook Survey (BOS). Firms are asked to participate based on several criteria—most importantly, their region, sector and size. Content Type(s): Background materials
Implementation and Effectiveness of Extended Monetary Policy Tools: Lessons from the Literature Staff Discussion Paper 2020-16 Grahame Johnson, Sharon Kozicki, Romanos Priftis, Lena Suchanek, Jonathan Witmer, Jing Yang This paper summarizes the literature on the performance of various extended monetary policy tools when conventional policy rates are constrained by the effective lower bound. We highlight issues that may arise when these tools are used by central banks of small open economies. Content Type(s): Staff research, Staff discussion papers Topic(s): Monetary policy, Monetary policy implementation, Monetary policy transmission JEL Code(s): E, E5, E52, E58, E6, E63
A Reference Guide for the Business Outlook Survey Staff Discussion Paper 2020-15 David Amirault, Naveen Rai, Laurent Martin The Business Outlook Survey (BOS) has become an important part of monetary policy deliberations at the Bank of Canada and is also well known in Canadian policy and financial circles. This paper compiles more than 20 years of experience conducting the BOS and serves as a comprehensive reference manual. Content Type(s): Staff research, Staff discussion papers Topic(s): Firm dynamics, Regional economic developments JEL Code(s): C, C8, C83, D, D2, D22, E, E3, E32
Strategic Uncertainty in Financial Markets: Evidence from a Consensus Pricing Service Staff Working Paper 2020-55 Lerby Ergun, Andreas Uthemann We look at the informational content of consensus pricing in opaque over-the-counter markets. We show that the availability of price data informs participants mainly about other participants’ valuations, rather than about the value of a financial security. Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Financial markets, Market structure and pricing JEL Code(s): C, C5, C58, D, D5, D53, D8, D83, G, G1, G12, G14