Canada
Interconnectedness of financial system ‘amplifies climate risks’
Bank of Canada research says funds’ responses to climate shocks could exacerbate related losses
Bank of Canada holds rates steady for fourth consecutive decision
Underlying inflation far too persistent, argues governor
Extreme temperature harms household finances, warns paper
Payday loan delinquency and defaults increase during extreme weather
Communicating uncertainty helps curb expectations – BoC paper
But conveying uncertainty about inflation weakens link between inflation and spending plans
Banknotes: October to December 2023
A round-up of news and salient issues that have affected central bankers in the past three months
Bank of Canada maps path to ‘fourth-generation’ models
Officials plan to create new workhorse model backed by variants focusing on key topics
Bank of Canada holds rates steady
Macklem says it’s clear the stance of policy is restricting inflationary pressures
Canada introduces first Charles III coins
Argentina updates 2,000-peso note; ECCB commemorative note honours cricketer; and more
Bank of Canada finds widespread public hostility to CBDC
Respondents expressed distrust of government and lack of interest in digital dollar
People: New governor in Sierra Leone
Brazilian president nominates two new central bank directors; new head of statistics at ECB; and more
Book notes: The economic government of the world 1933–2023, by Martin Daunton
A deep dive into the politics, personalities, trade theory and trade practice of the era, but missing a crucial element: the collapse in the US stock of money
Bank of Canada holds policy rate again at 5%
Central bank suggesting rates will stay high as inflation remains strong
Macklem warns Canadian politicians against rates lobbying
Governor says politicians’ letters could suggest ‘operational independence is at risk’
Public trust: the role of the private sector in exploring digital currency
Digital currencies that effectively protect financial privacy in lawful transactions will garner enduring confidence in the highly integrated networks of the future, argue J Christopher Giancarlo and Daniel Gorfine
DeFi could improve payments and settlement – BoC research
Inefficient legacy systems hamper the smooth completion of these operations
Canadian deputy governor warns of repeating pricing pressures
Vincent argues supply shocks, technology and consolidation may make raising prices easier
Bank of Canada researchers claim breakthrough in credentialisation
System’s creators use a Merkle tree to create “secret-free and quantum-safe” method
Canadian official says mortgage rates not big cause of inflation
Kozicki says taking home loans out would make only small dent in core reading
Critic urges UK to leave China-based lender
Treasury says UK will stay in AIIB as ex-official calls some employees “useful idiots”
Freeland welcomes Bank of Canada rate pause
Finance minister qualifies statement as other politicians attack monetary policy
Bank of Canada holds rates steady amid political pressure
Regional heads send letter to governor Macklem calling for an end to rate hikes
Digitalisation has complex impact on monetary policy – BoC paper
New technologies could affect policy transmission, communication and data tools
Canadian CBDC would not improve inclusion, paper says
Bank of Canada research finds most citizens already have access to e-payments options
Bank of Canada’s Maryam Haghighi on quantum computing in central banks
The director of data science talks about post-quantum encryption, payments simulation and optimisation problems, and how the quantum work is happening in a multidisciplinary way