Consumer Interest Rates and Retail Mutual Fund Flows Staff Working Paper 2012-39 Jesus Sierra This paper documents a link between the real and financial sides of the economy. We find that retail equity mutual fund flows in Canada are negatively related to current and past changes in a component of the prime and 5-year mortgage rates that is uncorrelated with government rates. Content Type(s): Staff research, Staff working papers Topic(s): Financial services, Interest rates JEL Code(s): G, G2, G21, G23
December 14, 2012 Weekly Financial Statistics - 14 December 2012 Content Type(s): Publications, Historical: Weekly Financial Statistics
December 13, 2012 Bank of Canada Announces Extension of Swap Facilities in coordination with other central banks The Bank of Canada, the Bank of England, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing an extension of the existing temporary U.S. dollar liquidity swap arrangements to 1 February 2014. Previously, these swap arrangements had been authorized to 1 February 2013. Content Type(s): Press, Market notices
December 11, 2012 Guidance Remarks Mark Carney CFA Society Toronto Toronto, Ontario Bank of Canada Governor Mark Carney speaks about central bank policy guidance. Content Type(s): Press, Speeches and appearances, Remarks
December 11, 2012 Central Bank Policy Guidance May Be Most Useful in Extraordinary Times, Says Bank of Canada Governor Mark Carney Media Relations Toronto, Ontario While transparency is critical to well-functioning capital markets and effective monetary policy, forward policy guidance is best used sparingly by central banks in normal times, Bank of Canada Governor Mark Carney said today. In a speech to the Toronto CFA Society, the Governor discussed where policy guidance can be most effective and when it may […] Content Type(s): Press, Press releases
December 7, 2012 Weekly Financial Statistics - 7 December 2012 Content Type(s): Publications, Historical: Weekly Financial Statistics
Liquidity and Central Clearing: Evidence from the CDS Market Staff Working Paper 2012-38 Joshua Slive, Jonathan Witmer, Elizabeth Woodman An international initiative to increase the use of central clearing for OTC derivatives emerged as one of the reactions to the 2008 financial crisis. The move to central clearing is a fundamental change in the structure of the market. Content Type(s): Staff research, Staff working papers Topic(s): Financial markets JEL Code(s): G, G3, G30, G38