July 25, 2019 Toward 2021: Research To prepare for the 2021 renewal, our researchers studied the effectiveness of the monetary policy framework, assessed alternative frameworks and learned from the experience of other central banks.
How Oil Supply Shocks Affect the Global Economy: Evidence from Local Projections Staff Discussion Paper 2019-6 Olivier Gervais We provide empirical evidence on the impact of oil supply shocks on global aggregates. To do this, we first extract structural oil supply shocks from a standard oil-price determination model found in the literature. Content Type(s): Staff research, Staff discussion papers Topic(s): Business fluctuations and cycles, International topics JEL Code(s): C, C2, C22, C5, E, E3, E37, Q, Q4, Q43
July 23, 2019 Bank of Canada publishes its 2020 schedule for policy interest rate announcements, the release of the Monetary Policy Report and other major publications Media Relations Ottawa, Ontario The Bank of Canada today published its 2020 schedule for policy interest rate announcements and the release of the quarterly Monetary Policy Report and reconfirmed the scheduled interest rate announcement dates for the remainder of this year. Content Type(s): Press, Press releases
July 22, 2019 CARR Meeting (July 22, 2019) Content Type(s): Meetings Source(s): Canadian Alternative Reference Rate Working Group
July 19, 2019 Business Outlook Survey Data Each quarter, the Business Outlook Survey results are based on interviews with senior management of about 100 firms.
July 16, 2019 Results from the CARR Consultation on Enhancements to the Canadian Overnight Repo Rate Average This document provides a summary of consultation results on enhancements to the Canadian Overnight Repo Rate Average. Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
July 16, 2019 Bank of Canada to become the administrator of key interest rate benchmark Media Relations Ottawa, Ontario The Bank of Canada today announced its intention to become the administrator of the Canadian Overnight Repo Rate Average (CORRA), a key interest rate benchmark for financial markets. Content Type(s): Press, Press releases Source(s): Canadian Alternative Reference Rate Working Group
The Effects of Inflation Targeting for Financial Development Staff Analytical Note 2019-21 Geoffrey R. Dunbar, Amy (Qijia) Li The adoption of inflation targeting (IT) by central banks leads to an increase of 10 to 20 percent in measures of financial development, with a lag. We also find evidence that the financial sector benefits of IT adoption were higher for early-adopting central banks. Content Type(s): Staff research, Staff analytical notes Topic(s): Financial institutions, Inflation targets, Monetary policy transmission JEL Code(s): E, E4, E44, E5, E58