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The impact of the Bank of Canada’s Government Bond Purchase Program

Author

Listed:
  • Rohan Arora
  • Sermin Gungor
  • Joe Nesrallah
  • Guillaume Ouellet Leblanc
  • Jonathan Witmer

Abstract

We assess the response of Government of Canada bond yields to the Bank of Canada’s initial announcement of the Government Bond Purchase Program (GBPP) as well as to the Bank’s later GBPP purchase operations.

Suggested Citation

  • Rohan Arora & Sermin Gungor & Joe Nesrallah & Guillaume Ouellet Leblanc & Jonathan Witmer, 2021. "The impact of the Bank of Canada’s Government Bond Purchase Program," Staff Analytical Notes 2021-23, Bank of Canada.
    • Handle: RePEc:bca:bocsan:21-23
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    File URL: https://www.bankofcanada.ca/2021/10/staff-analytical-note-2021-23/
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    Citations

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    Cited by:

    1. Daan Steenkamp & Henk Janse van Vuuren & Rossouw van Jaarsveld & Roy Havemann, 2022. "The bond market impact of the South African Reserve Bank bond purchase programme," Working Papers 876, Economic Research Southern Africa.
    2. Metrick, Andrew, 2022. "Market Support Programs: COVID-19 Crisis," Journal of Financial Crises, Yale Program on Financial Stability (YPFS), vol. 4(2), pages 179-219, April.
    3. Grahame Johnson, 2023. "A Review of the Bank of Canada’s Market Operations related to COVID-19," Discussion Papers 2023-6, Bank of Canada.
    4. Bank for International Settlements, 2023. "Central bank asset purchases in response to the Covid-19 crisis," CGFS Papers, Bank for International Settlements, number 68, december.

    More about this item

    Keywords

    Monetary policy; Monetary policy implementation; Monetary policy transmission;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy

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