Canada
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
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
Asia can ease collateral squeeze, says Clearstream chief
The global thirst for high-grade collateral resulting from OTC clearing will require Asia to play a greater role in future, according to Jeffrey Tessler, chief executive of Clearstream
Industry unmoved by death of minor-currency Libor
The Wheatley Review calls for an end to Libor quoting in five currencies, but the number of trades affected is small, say market participants
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
Central Bank of Chile paper supports unit root-based inflation forecasts
Working paper argues unit root-based models can create effective inflation forecasts; tests findings based on data from US, Canada and Sweden
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
Bank of Canada reports payment system developments
Report reviews Bank of Canada’s activities in promoting clearing and settlement systems; says operations support 'stability and efficiency' of financial system
Canada may withdraw monetary stimulus if growth remains on track, says Carney
Mark Carney lauds Canadian economy, says Europe must create a common banking union and believes global recovery relies on moving to an open, multi-polar international economy
Bank of Canada paper compares price-level and inflation targets
Working paper considers effect of global commodity price shocks on choice of monetary policy regime; finds important impact of energy supply and demand
Bank of Canada paper estimates settlement balance demand
Working paper estimates aggregate demand for settlement balances; suggests that the central bank’s supply of $3 billion is reasonable
Canada behind macro-prudential curve, say former Bank governors
Paul Jenkins and Gordon Thiessen want responsibility for macro-prudential policy formally assigned in Canada; also urge creation of a framework in which to carry out these functions
Canada's Murray dispels 'popular misconceptions' about monetary policy
Bank of Canada deputy governor discusses ‘popular misconceptions’ concerning monetary policy formation
Bank of Canada unveils new banknote
New C$20 polymer banknote unveiled by Bank of Canada; enhanced security features aimed at thwarting counterfeiters
Carney calls for competitiveness gains to drive exports
Governor of the Bank of Canada calls for exporters to improve competitiveness; says there must be a focus on exporting to emerging economies