Canada
Central bank projections of target variables most influential - paper
Paper examines the impact of central bank forecasts and forward guidance on private sector projections, concluding most firms use them primarily as monetary policy indicators
Bank of Canada is focusing on household debt levels, governor says
Governor says levels of debt keep him awake at night
Small open economies benefit from QE spillovers – IMF paper
Fed’s QE had a similar net positive effect in Canada to that in the US
Bank of Canada paper investigates the ‘burden of coins’
Research sheds light on consumer behaviour when making low-value transactions with cash, suggesting cards more likely to be used if large amount of coins will be received
Central banks should not give impression of ‘complete foresight’
Bank of Canada officials say the goal is to convey “comprehensive assessment” of factors affecting policy while acknowledging uncertainty
Uncertainty can call for asymmetric action – Canada’s Wilkins
“Uncertainty is not a reason for paralysis,” says the Bank of Canada deputy
Singapore unveils cross-border fintech push
Singapore plans to work with central banks in Hong Kong, Canada and Thailand on fintech
Productivity puzzles and the neutral rate of interest
Monetary policy frameworks should be subjected to internal and external reviews to ensure they remain fit for purpose
Poloz: standard inflation theories still work
Old relationships “are as applicable today as they ever were”, says Bank of Canada governor
Risk of protectionist policies not yet factored in – Poloz
Bank of Canada governor says household debt, wage growth and labour market are all considered for monetary policy projections
Canada’s Project Jasper to explore clearing of securities in third phase
Central bank teams up with new partner for phase three of DLT project, with results expected in May 2018
Bank of Canada paper studies capital control motivations
Researcher designs policy rule to study whether capital controls are imposed with “mercantilist” or “macro-prudential” motivations
Bank of Canada deputy warns about negative effects of protectionism
Timothy Lane says populism may lead to less trade and lower standards of living
Stronger Canadian dollar weighing on policymakers' minds – Lane
Bank of Canada deputy says bank is paying ‘close attention’ to how markets respond to higher interest rates and stronger currency, which could threaten supply chains
Canadian deputy: inflation target renewal aids policymaking
A renewal period offers the bank a research opportunity to examine monetary policy framework; such research prompted a decision to maintain inflation target at 2%
Bank of Canada rebuts ‘epic fail’ communication claim
Central bank’s head of comms rejects criticism from Bank of Montreal that policymakers failed to properly signal its recent rate hike
Where have all the women gone?
The number of women working at central banks has increased substantially, but a glass ceiling appears to remain for those reaching for senior management positions
Bank of Canada severs mechanical link to external ratings
After several years of work, the Bank of Canada is now “well positioned” to end its mechanistic reliance on external credit ratings, and is helping others do the same, says Philippe Muller
Paper proposes method to estimate network of exposures
Researcher draws on aggregate exposures and market data to build a more complete picture of the network of bank exposures
Fintech not an ‘immediate threat’ to monetary policy – paper
Research from the Bank of Canada explores the impact fintech could have on central banks’ responsibilities, deeming it “too early to judge” the effect on mandates
Bank of Canada hikes for first time in seven years
Bank of Canada becomes the latest advanced economy central bank to hike as the economy proves robust and inflation moves towards target
Bank of Canada broadening intelligence gathering with new survey
Systemic risk survey will be launched next year, says deputy governor, emphasising market intelligence can never provide a “perfectly complete picture”
Bank of Canada prepares to open redesigned museum
Museum set to reopen in July after “complete reimagining”, including interactive exhibits on the central bank’s mandate, inflation-based games and a two-tonne “Yap stone”
Wilkins offers optimistic assessment of Canadian economy
Carolyn Wilkins says Bank of Canada will assess whether current “considerable” monetary stimulus is still required; growth across sectors is an “encouraging” sign for the economy