Canada
Bank of Canada deputy discusses price divergence with US
John Murray says prices in Canada have been lower than those in the US for much of the past 30 years; notes the exchange rate 'seems to be driving prices in the two countries away from each other'
Canadian astronaut launches polymer banknotes
Former commander of the International Space Station marks the new $5 and $10 banknotes entering into circulation; senior deputy governor Tiff Macklem insists there is 'no chance' they will melt
Bank of Canada deputy takes on 'elusive' potential output
Agathe Côté says measuring potential output is a 'formidable' task; notes Canadian output gap is 'sizeable' and potential growth rate likely to remain at 2% in coming years
Bank of Canada holds rates despite drop in growth and inflation forecasts
Governing council holds key policy rate at 1% despite suggesting inflation will take two years to return to target; says economy is rebalancing but the process will ‘take longer than previously projected’
Canadian bonds more normal than US and UK equivalents at ZLB
Canadian sovereign debt yields are more responsive to shocks than UK and US equivalents at zero lower bound; differences diminish at shorter maturities
Canadian yields shown to be less sensitive to data shocks than US or UK
Working paper from the Dutch central bank shows that at the zero lower bound, Canadian government bond yields are less sensitive to surprising domestic data than US or UK equivalents
Macklem says Canadian exporters must look to new markets
Slowing domestic demand must be replaced with demand from other countries, says Bank of Canada deputy; faster-growing emerging markets will hold the key, he says
Canadian economy rowing to safety, says Poloz
Stephen Poloz says central bank's job is to fill the crater left by the burst bubble with liquidity - but when the economy has rowed itself to safety, the bank can reduce the injections
Canadian quarterly review outlines toolkit for analysing current economic performance
Summer 2013 edition of the BoC's review contains four articles outlining the bank's latest thinking and methods of analysing current economic trends at home and abroad
Bank of Canada ‘sharpens’ forward guidance
Governing council commits to holding interest rate at 1% for as long as there is ‘significant slack’ in the economy, inflation is ‘muted’ and household debt remains under control
Canadian deputy says shadow banking could push up household debt
Timothy Lane raises concerns over the securitisation of government-guaranteed mortgages through shadow banks; says the low-cost funding could increase lending for mortgages
Poloz seeks to reassure Canada's exporters
New Bank of Canada governor says inflation target remains ‘sacrosanct'; promises to help build business confidence through clear monetary policy
Bank of Canada reins in risk concerns
Review of Canadian financial system finds risks from European sovereign debt crisis and Canadian housing market are retreating; special report says collateral demand is ‘manageable’
Canadian paper proposes new DSGE model for analysing credit shocks
Working paper proposes new model that accounts for the effects of defaults on both households and banks; finds the probability of a company defaulting rises with its leverage ratio
'Furious' jobs increase boosts Bank of Canada’s Poloz
Statistics Canada reports increase of 95,000 jobs in May; Poloz uses first speech in role to call for economic rebalancing and issue warning over low inflation
Carney hails Canada's 'massive and disciplined' crisis response
Bank of Canada governor, soon to replace Mervyn King at the Bank of England, says stimulus will be withdrawn in Canada 'appropriately as threats diminish'
Bank of Canada names Stephen Poloz as governor
The CEO of Export Development Canada Stephen Poloz is a surprise pick to replace Mark Carney; governor designate backs existing monetary policy framework and says inflation target is ‘sacrosanct’
Bank of Canada annual report highlights banknote success
New series of polymer banknotes introduced in 2012 as counterfeiting continues to fall; inflation kept shackled throughout year but falls below target in December
Canadian deputy says global demand must ‘rotate’
John Murray warns that a lack of co-operation in global rebalancing will only make the situation worse; says global GDP could contract by $6 trillion by 2015
Canadian deputy encourages use of derivatives central counterparty
Bank of Canada deputy calls for ‘material increase’ in central counterparty membership; supports smaller institutions accessing service through existing participants
Carney says banks should follow the Canadian example in rebuilding trust
Bank of Canada chief says banks – at least those outside Canada – have a long way to go in rebuilding trust, but progress is being made
Co-operation needed to avoid reduction in cross-border activity, says Canadian deputy
Timothy Lane says a reduction in cross-border activity only internalises the contagion risk; greater global co-operation needed to improve financial stability
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