Bank of Canada (BoC)
To play the counterfeiter
The Reproduction Research Centre in Copenhagen helps central banks to counterfeit colour-shifting technology and machine-readable codes on banknotes in a bid to reduce fraud
Bank of Canada identifies first ‘prominent' payment system
The Automated Clearing Settlement System is considered "central" to Canadian payments and must now meet risk management standards based on global PFMI
Poloz upbeat on US and Canadian productivity prospects
Bank of Canada governor explores evolution of international trade; it may have fallen, but there are still opportunities for productivity growth, Poloz says
Poloz: CCA central banks ‘challenged’ in meeting their core objectives
New BIS Americas head believes financial stability should be built into regional policy decision-making even when not specifically stated as a core mandate; macro-pru "in sight" for many in region
Canada holds rate but raises growth forecast in light of fiscal boost
Stephen Poloz highlights “more favourable policy mix” in press conference; central bank notes emergence of “positive forces” in decision
Canadian banks could withstand shock from China, deputy governor suggests
Financial institutions have adequate capital liquidity to handle external pressures, Wilkins says; research suggests Canadian growth would decrease by 0.1% if Chinese growth fell by 1%
Canadian economy may find ‘new balance’ at lower potential growth, Patterson says
Hit to the commodities sector likely to have knock-on effects, lowering broader investment and harming potential growth, deputy governor warns
Canadian public put forward women for spot on new banknote
Bank of Canada to launch new polymer banknote in 2018 featuring an “iconic” Canadian woman; Nellie McClung announced as first nomination
Bank of Canada picks ‘renowned and prolific’ new deputy
Sylvain Leduc chosen as new deputy governor, bringing a lengthy list of publications and a ‘deep understanding’ of the international monetary system; deputy duties also reshuffled
Canadian deputy warns limits to macro-prudential tools may impact monetary policy
Timothy Lane says fiscal policy may have to step into the breach and provide stimulus when using monetary policy would risk creating ‘vulnerabilities’ macro-prudential policy can’t offset
People: Patel reappointed RBI deputy; Kocherlakota moves to University of Rochester
RBI deputy Urjit Patel gets second three-year term; Narayana Kocherlakota takes up economics chair at University of Rochester; Canadian governor to head BIS’s consultative council for the Americas
Market preoccupation with divergence likely means ‘more variability’, Poloz says
Canadian governor believes such variability to be a ‘natural reaction’ to shocks; flexible exchange rate allows for adjustment
2015: The year in review
Research exploring new frontiers and challenging the prevailing orthodoxies took centre stage over the past year - we look back at some of the biggest stories
Bank of Canada identifies ‘prolonged weakness’ in commodity prices as a key risk
Latest financial system review suggests the resulting stress would be ‘manageable’, although an additional ‘large and broad-based drop’ would pose a bigger problem
Bank of Canada adds negative rates to toolkit
Central bank publishes new framework for monetary policy when interest rates are approaching zero, suggesting the overnight rate could be cut as low as -0.5%
Canada looks for new deputy as Côté prepares to stand down
Bank of Canada begins search for deputy governor, stressing importance of experience using macroeconomic models and communicating views
Canadian paper sees costs to leaning against the wind
Research estimates difference in policy rates between ‘lean’ and ‘clean’ central banks, while identifying costs in terms of inflation and output deviations
It is ‘OK’ if researchers challenge Bank of Canada council, Wilkins says
Senior deputy governor outlines new procedure for publishing papers independently from the governing council; advocates ‘intellectual space’ for ideas
Poloz sees risks to inflation outlook as ‘roughly balanced’ as Canada holds rates
Canadian governor highlights ‘building’ economic momentum after central bank holds its target for the overnight rate at 0.5%
Poloz explores ‘risk management’ in policy framework
Bank of Canada governor says monetary policy cannot always be used to lean against the wind, but financial stability impact can be taken into account on occasion
Poloz expects Canada to manage adjustment well
Bank of Canada governor says the floating exchange rate will help the country to adjust to the resource price shock, while reducing the disinflationary risks that come with it
Canadian deputy says LTV and DTI limits ‘most effective’ macro-pru tools
Lawrence Schembri examines demand and supply factors underpinning rise in house prices; evaluates macro-prudential tools used in Canada and elsewhere
Bank of Canada paper flags risk of spillovers from emerging to developed economies
Researchers show how a search for safe assets could transmit instability to developed economies as capital flows out of emerging markets
Bank of Canada cuts rates to support ‘complex adjustment’
Central bank says economy needs additional support as it restructures in response to complex impact from oil price shock; fears remain over imbalances in household sector