April 12, 2023 Monetary Policy Report – April 2023 Inflation in Canada remains high but should come down quickly to around 3% in the middle of this year because of lower energy prices, improved supply chains and restrictive monetary policy. The Bank projects that inflation will reach the 2% target by the end of 2024. Content Type(s): Publications, Monetary Policy Report
November 18, 2013 Risk Management and Financial Reform Remarks Tiff Macklem Autorité des marchés financiers Montréal, Quebec Senior Deputy Governor Tiff Macklem discusses risk management and global financial reform. Content Type(s): Press, Speeches and appearances, Remarks
February 21, 2024 Safeguarding end-user funds This draft supervisory guideline is intended to help payment service providers subject to the Retail Payment Activities Act meet their obligations related to safeguarding end-user funds.
Calculating Effective Degrees of Freedom for Forecast Combinations and Ensemble Models Staff Discussion Paper 2022-19 James Younker This paper derives a calculation for the effective degrees of freedom of a forecast combination under a set of general conditions for linear models. Computing effective degrees of freedom shows that the complexity cost of a forecast combination is driven by the parameters in the weighting scheme and the weighted average of parameters in the auxiliary models. Content Type(s): Staff research, Staff discussion papers Topic(s): Econometric and statistical methods JEL Code(s): C, C0, C01, C02, C1, C13, C5, C50, C51, C52, C53
June 9, 2016 Securities Financing and Bond Market Liquidity Financial System Review - June 2016 Jean-Sébastien Fontaine, Corey Garriott, Kyle Gray This report investigates how the markets for repurchase agreements and securities-lending agreements support the liquidity of Canadian bond markets. It also discusses how recent regulatory changes, as well as low interest rates and settlement failures, are potentially affecting securities-financing markets and, as a result, bond market liquidity. Content Type(s): Publications, Financial System Review articles Topic(s): Financial markets, Financial system regulation and policies, Market structure and pricing JEL Code(s): G, G1, G12, G2
Alternative Scenario to the October 2017 MPR Base-Case Projection: Higher Potential Growth Staff Analytical Note 2017-18 Jing Yang, Ben Tomlin, Olivier Gervais We construct an alternative scenario in which trend labour input and business investment are stronger than that expected in the Bank of Canada’s base-case projection in the October 2017 Monetary Policy Report. Content Type(s): Staff research, Staff analytical notes Topic(s): Inflation and prices, Monetary policy, Potential output JEL Code(s): E, E2, E22, E24, E27, E5
November 7, 2012 Release of the $20 Bank Note Remarks Mark Carney Canadian War Museum Ottawa, Ontario Governor Mark Carney announces the entry into circulation of the new $20 polymer bank notes. Content Type(s): Press, Speeches and appearances, Remarks
April 15, 2020 Monetary Policy Report – April 2020 Canada’s economy faces two significant shocks—the plunge in global oil prices and the impact of the COVID-19 pandemic. Content Type(s): Publications, Monetary Policy Report
April 16, 2020 Opening Statement before the House of Commons Standing Committee on Finance Opening statement Stephen S. Poloz House of Commons Standing Committee on Finance Ottawa, Ontario Good afternoon, Mr. Chairman and committee members. Senior Deputy Governor Wilkins and I welcome the opportunity to appear before you to discuss the Bank’s policy actions in response to the coronavirus pandemic, as well as our Monetary Policy Report (MPR), which we published yesterday. The Canadian economy is experiencing a significant and rapid contraction. The […] Content Type(s): Press, Speeches and appearances, Opening statements Topic(s): Coronavirus disease (COVID-19), Inflation and prices, Monetary policy, Monetary policy transmission, Recent economic and financial developments
Customer Liquidity Provision in Canadian Bond Markets Staff Analytical Note 2018-12 Corey Garriott, Jesse Johal This analytical note assesses the prevalence of liquidity provision by institutional investors in Canadian bonds. We find that the practice is not prevalent in Canada. Customer liquidity provision is more prevalent for less liquid bonds, on days when liquidity is already expensive or when there are larger trading volumes. In our interpretation, Canadian dealers draw on customer liquidity as a supplementary source of liquidity and only when necessary, given its cost. Content Type(s): Staff research, Staff analytical notes Topic(s): Financial institutions, Financial markets, Financial system regulation and policies, Market structure and pricing, Recent economic and financial developments JEL Code(s): G, G1, G14, G2, G20, L, L1