April 21, 2015 2015–16 Debt Management Strategy Consultations Summary of Comments The Government of Canada considers regular consultations with market participants to be an essential component of its ongoing commitment to a well-functioning government securities market and an integral part of the debt management process. In November 2014, a total of 46 bilateral meetings were held with organizations in Toronto, Montreal, New York, […]
A Wake-Up-Call Theory of Contagion Staff Working Paper 2015-14 Christoph Bertsch, Toni Ahnert We propose a novel theory of financial contagion. We study global coordination games of regime change in two regions with an initially uncertain correlation of regional fundamentals. Content Type(s): Staff research, Staff working papers Topic(s): Exchange rates, Financial stability, International financial markets JEL Code(s): D, D8, D82, F, F3, G, G0, G01
Euro Area Government Bonds—Integration and Fragmentation During the Sovereign Debt Crisis Staff Working Paper 2015-13 Michael Ehrmann, Marcel Fratzscher The paper analyzes the integration of euro area sovereign bond markets during the European sovereign debt crisis. It tests for contagion (i.e., an intensification in the transmission of shocks across countries), fragmentation (a reduction in spillovers) and flight-to-quality patterns, exploiting the heteroskedasticity of intraday changes in bond yields for identification. Content Type(s): Staff research, Staff working papers Topic(s): Asset pricing, Financial markets, Interest rates, International financial markets JEL Code(s): E, E5, F, F3, G, G1, G15
April 17, 2015 Weekly Financial Statistics - 17 April 2015 Content Type(s): Publications, Historical: Weekly Financial Statistics
April 15, 2015 Release of the Monetary Policy Report Opening statement Stephen S. Poloz Ottawa, Ontario Press conference following the release of the Monetary Policy Report. Content Type(s): Press, Speeches and appearances, Opening statements Topic(s): Inflation and prices, Interest rates, Labour markets, Monetary policy, Monetary policy implementation, Recent economic and financial developments
April 15, 2015 Bank of Canada maintains overnight rate target at 3/4 per cent Media Relations Ottawa, Ontario The Bank of Canada today announced that it is maintaining its target for the overnight rate at 3/4 per cent. The Bank Rate is correspondingly 1 per cent and the deposit rate is 1/2 per cent. Content Type(s): Press, Press releases