Bank of Canada (BoC)
Bank of Israel governor Fischer to step down
Stanley Fischer announces he will stand down in June this year; speculation begins as to his next move
Carney insists Bank of Canada will tighten policy despite holding rates again
Mark Carney says the withdrawal of monetary stimulus is postponed, but not cancelled, as Bank of Canada’s governing council holds rates again
Bank of Canada front-runner discusses interest rate rise
Tiff Macklem, tipped to be the next Canadian governor, reveals concern over household imbalances despite ‘signs of stabilisation’ and points to potential interest rate rise
Bank of Canada wants national citizen to succeed Carney
Legislation dictates governor must be a Canadian citizen; advert for new governor released publicly on central bank website
Central banks extend swap arrangements
Bank of Canada, Bank of England, European Central Bank, Swiss National Bank and US Federal Reserve extend temporary US dollar and bilateral swap agreements
Carney and BoE chief economist clash on inflation targeting
Bank of England governor-elect Mark Carney suggests inflation target could be sacrificed for nominal GDP goal; Spencer Dale questions whether this would be effective or viable
Canadian research finds net liquidity boost from central clearing
Bank of Canada working paper finds small liquidity increase from use of centrally cleared derivatives
Canadian deputy fears ‘ugly’ outlook for global economy
Bank of Canada’s John Murray says policy slippages are endangering global recovery; hits out at surplus countries and says world is trapped in a ‘bad’ scenario
Robert Pringle’s Viewpoint: How governments are undermining world finance
Central bankers need to forcefully express their concerns about the unintended consequences of new regulatory policies
FSB to hold non-compliant G-20 countries to account, says Carney
The Financial Stability Board will ‘name and shame’ countries that fail or attempt to avoid new global regulations aimed at improving financial market stability
Bank of Canada issues C$20 polymer bank note
Canadian central bank moves to replace most popular – and most frequently counterfeited – banknote as part of its migration to polymer currency
QE sliced unemployment by 1.5 points, says Fed’s Williams
San Francisco Fed president says Fed's forward guidance on rates has narrowed Treasury yields by 15-20 basis points, about the same amount as QE2; asset purchases have cut unemployment by 1.5 points
Canada’s Carney wants an end to ‘global angst’
Bank of Canada governor Mark Carney says quick and bold action needed to end uncertainty restraining economic growth
Bank of Canada grandees pay tribute to James Coyne
Incumbent and retired Bank of Canada governors pay tribute to James Coyne, an early crusader for price stability and central bank operational independence, who died on October 12
Canada paper analyses China impact on Latin America
Bank of Canada study investigates the significance of Chinese and US GDP on the transmission mechanism of business cycles to Latin America
‘Financialisation’ of commodities markets in reverse, says Canada’s Lane
Bank of Canada’s Timothy Lane says bank deleveraging could lead to a reversal of the close ties in recent years between financial and commodity markets
Canadian governor refuses to lean on exchange rate
Mark Carney praised effect of high commodity prices on Canada’s economy despite currency appreciation; says he will not intervene in exchange rates
Bank of Canada paper studies risk and debt maturity
Working paper finds firms facing higher volatility tend to issue debt with a longer maturity; increase in maturity period accelerates during a recession
Carney discusses the “right kind” of globalisation
Governor of the Bank of Canada explains how globalisation can be harnessed to create prosperity for Canadians; says responsibility for past mistakes lay with many parties
BoC’s Cote says debt distributions useful in gauging systemic risk
Bank of Canada deputy governor Agathe Cote says aggregate indicators are not sufficient for judging systemic risk; distribution of debt is as important as the overall amount
Bank of Canada estimates measurement bias in CPI
Article assesses degree of bias in the consumer prices index; suggests more frequent updating of goods basket would allow for more accurate measurement
Bank of Canada paper finds major benefits of QE in UK and US
Researchers study impact of asset purchases by Federal Reserve and Bank of England; identify ‘powerful effect’ on output and inflation
Bank of Canada paper warns of shock transmission multipliers
Working paper finds financial integration between countries leads to multiplier effects in the transmission of shocks; suggests greater investment causes greater correlation of output
Bank of Canada holds rates steady
Governing council decides to keep benchmark rate at 1%; says modest tightening of monetary policy may be justified if recovery continues