June 19, 2024 Summary of Governing Council deliberations: Fixed announcement date of June 5, 2024 This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on June 5, 2024. Content Type(s): Publications, Summary of deliberations
Non-Parametric Identification and Testing of Quantal Response Equilibrium Staff Working Paper 2024-24 Johannes Hoelzemann, Ryan Webb, Erhao Xie We show that the utility function and the error distribution are non-parametrically over-identified under Quantal Response Equilibrium (QRE). This leads to a simple test for QRE. We illustrate our method in a Monte Carlo exercise and a laboratory experiment. Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Economic models JEL Code(s): C, C1, C14, C5, C57, C9, C92
June 10, 2024 CARR provides guidance for CDOR-based loans, derivatives and securities that do not have a robust fallback in place for CDOR’s cessation post June 28, 2024 The Canadian Alternative Reference Rate working group (CARR) is providing guidance to market participants with respect to CDOR-linked loans, derivatives and securities that do not have adequate fallback language to address the cessation of CDOR following the final publication by Refinitiv Benchmark Services (UK) Limited on June 28, 2024 (the “Cessation Date”). Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
June 13, 2024 Speech by Sharon Kozicki, Deputy Governor of the Bank of Canada On Thursday, June 13, 2024, Sharon Kozicki, Deputy Governor of the Bank of Canada, will speak before the Canadian Association for Business Economics (CABE) hosted by the Ottawa Economics Association (OEA). Content Type(s): Press, Media advisories
June 5, 2024 Bank of Canada Media Interview – CBC News Tiff Macklem, Governor of the Bank of Canada, gave an interview to Peter Armstrong of CBC News. Content Type(s): Press, Media advisories
June 5, 2024 Bank of Canada Media Interview – TVA Tiff Macklem, Governor of the Bank of Canada, gave an interview to TVA Nouvelles’ Olivier Ferron-Boissé. Content Type(s): Press, Media advisories
May 30, 2024 Future-proofing our payments systems Speech summary Ron Morrow Payments Canada SUMMIT Toronto, Ontario Executive Director of Payments, Supervision and Oversight Ron Morrow talks about how payments have evolved in Canada and why it’s important to modernize our payment infrastructure. Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Bank notes, Digital currencies and fintech, Payment clearing and settlement systems, Retail payments supervision
May 30, 2024 Speech by Ron Morrow, Executive Director of Payments, Supervision and Oversight at the Bank of Canada On Thursday, May 30, 2024, Ron Morrow, Executive Director of Payments, Supervision and Oversight at the Bank of Canada, will speak at The Payments Canada SUMMIT. Content Type(s): Press, Media advisories
Digital Payments in Firm Networks: Theory of Adoption and Quantum Algorithm Staff Working Paper 2024-17 Sofia Priazhkina, Samuel Palmer, Pablo Martín-Ramiro, Román Orús, Samuel Mugel, Vladimir Skavysh We build a network formation game of firms with trade flows to study the adoption and usage of a new digital currency as an alternative to correspondent banking. Content Type(s): Staff research, Staff working papers Topic(s): Central bank research, Digital currencies and fintech, Digitalization, Economic models, Financial institutions, Payment clearing and settlement systems, Sectoral balance sheet JEL Code(s): C, C6, C7, C71, D, D4, D8, D85, G, L, L2, L22
May 16, 2024 CIMPA Meeting (May 16, 2024) Content Type(s): Meetings Source(s): Collateral Infrastructure and Market Practices Advisory Group