Canada
Filipe Dinis on Bank of Canada’s cyber strategy and tackling cyber risks
The Canadian central bank’s chief operating officer calls for heightened vigilance, more collaboration, info sharing and tabletop exercises, and less reliance on similar, siloed systems
Rates round-up: Canada adds 50bp to main rate
Kenya orders first rate increase since 2015; Dominican Republic hikes 100bp; and more
Small drop in US CPI hints at inflation reprieve
Economists estimate US is past inflation peak, but other G7 nations may still be on the upward leg
CBDC little threat to Canadian bank liquidity – paper
Bank of Canada research says most bigger banks have enough funding to handle retail CBDC competition
Bank of Canada’s Rogers says ‘decisive’ policy needed
Senior deputy says house prices are unsustainably high
Tech talent: a global bottleneck for central banks?
Central banks are struggling to recruit people with the right fintech expertise. The search for talent may also create new ethical challenges in managing links to industry
Canada and New Zealand step up rate hikes
Both central banks raise rates by 50bp in bid to “head off” rising inflation expectations
Canada proposes ban on foreign investors buying houses
Hot housing market is adding to domestic inflation’s record highs, but some are sceptical the ban will work
People: Macklem to chair Basel Committee oversight board
China names policy-makers; BoJ reappoints key monetary policy official; Kazakhstan replaces deputy
Every CBDC decision is a tradeoff, says Bank of Canada’s Shah
Privacy, security, and offline access present difficult problems
Financial market infrastructure services: SIA
The Italian company impressed with its multi-year work on the ‘big-bang’ implementation of Canada’s new RTGS
Are central banks ahead of banknote counterfeiters?
Antti Heinonen analyses data on recent trends in counterfeiting
Central banks can lean against fiscal dominance – BoC paper
Authors find monetary policy works better when conditional on fiscal policy
Bank of Canada governor says rate increase ‘was first step’
Macklem says he expects inflation to fall in second half and expectations remain anchored
Bank of Canada says software problem halted repo auction
Central bank says securities repo operations have now restarted
Bank of Canada raises policy rate
Hike marks end of ultra-loose policy imposed in response to Covid-19
Rethinking sovereign risk
‘Risk-free’ assets now include the possibility of complete confiscation with no recourse
Bank of Canada carries on as truckers protest
Non-essential staff working from home as anti-vaccine demonstrators occupy Canada’s capital
BoC paper highlights ‘profound impact’ of heterogeneity
Confluence of factors has pushed heterogeneity into the forefront of economic research, authors say
Canada removes forward guidance and maintains policy rate
Economic slack was absorbed rapidly in late 2021 and early 2022, bank says
Only some firms pay attention to economic news – Bank of Canada paper
Attention is “polarised and counter-cyclical”, affecting policy impact, researchers find
Bank of Canada pilot explores transitional risks of climate change
Six financial institutions joined the central bank and financial regulator in auditing their assets
Google data offers real-time indicator of business closures, says BoC research
Google Places database can reveal whether businesses are gone for good or just “hibernating”
Bank of Canada paper proposes ‘expiry date’ on offline CBDC
CBDC could have expiry date to help consumers recover lost money, authors say