September 9, 2021 Economic progress report: Monetary policy for the recovery Remarks (delivered virtually) Tiff Macklem Fédération des chambres de commerce du Québec Montréal, Quebec Bank of Canada Governor Tiff Macklem talks about the Bank’s latest interest rate announcement and discusses how the Bank could adjust monetary policy and its quantitative easing program as the recovery progresses. Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Coronavirus disease (COVID-19), Labour markets, Monetary policy, Monetary policy implementation, Recent economic and financial developments, Sectoral balance sheet
September 8, 2021 Bank of Canada maintains policy rate, continues forward guidance and current pace of quantitative easing Media Relations Ottawa, Ontario The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. Content Type(s): Press, Press releases
September 3, 2021 Operational details for upcoming secondary market purchases of Government of Canada securities (September 13–24) 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
September 1, 2021 Bank of Canada designates Lynx as a systemically important payment system Media Relations Ottawa, Ontario Bank of Canada Governor Tiff Macklem has designated Lynx, which is owned and operated by Payments Canada, as a systemically important payment system under the Payment Clearing and Settlement Act. Content Type(s): Press, Press releases
September 1, 2021 Lynx Lynx provides the setting in which the Bank of Canada conducts its monetary policy. Effective September 2021, it replaced the Large Value Transfer System (LVTS).
September 1, 2021 Statement of Policy Governing the Acquisition and Management of Financial Assets for the Bank of Canada’s Balance Sheet The Statement of Policy establishes the policy governing the acquisition and management of financial assets for the Bank’s balance sheet. It does not apply to the assets of the Bank’s pension trust fund or supplementary trust fund.
September 1, 2021 Bank of Canada launches the 2022 Fellowship Program awards The Bank of Canada is inviting Canadian universities to nominate exceptional academics for its 2022 Fellowship and Governor’s awards. Content Type(s): Press, Announcements Source(s): Fellowship Program
August 31, 2021 Research Update - August 2021 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
August 30, 2021 CARR Meeting (August 30, 2021) Content Type(s): Meetings Source(s): Canadian Alternative Reference Rate Working Group
Reaching for yield or resiliency? Explaining the shift in Canadian pension plan portfolios Staff Analytical Note 2021-20 Sébastien Betermier, Nicholas Byrne, Jean-Sébastien Fontaine, Hayden Ford, Jason Ho, Chelsea Mitchell “Reach for yield”—This is the commonly heard explanation for why pension plans shift their portfolios toward alternative assets. But we show that the new portfolios also hold more bonds, offer lower average returns and produce smaller and less volatile solvency deficits. These shifts are part of a broader strategy to reduce solvency risk. Content Type(s): Staff research, Staff analytical notes Topic(s): Financial institutions, Financial markets, Financial system regulation and policies JEL Code(s): G, G1, G11