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003	CaOODSP
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006	m     o  d f
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008	200914t20202020onc     ob   f000 0 eng d
040	|aCaOODSP|beng|erda|cCaOODSP
086	1 |aFB3-5/2020-35E-PDF
100	1 |aBulusu, Narayan, |eauthor.
245	10|aWhy do central banks make public announcements of open market operations? / |cby Narayan Bulusu.
264	1|aOttawa, Ontario, Canada : |bBank of Canada = Banque du Canada, |c2020.
264	4|c©2020
300	|a1 online resource (ii, 57 pages)
336	|atext|btxt|2rdacontent
337	|acomputer|bc|2rdamedia
338	|aonline resource|bcr|2rdacarrier
490	1 |aStaff working paper = Document de travail du personnel, |x1701-9397 ; |v2020-35
500	|aCover title.
500	|a"Last updated: August 31, 2020."
504	|aIncludes bibliographical references (pages 40-44).
520	3 |a"Central banks make public the results of open market operations (OMOs), which they use to adjust the liquidity available to the financial system to maintain the short-term borrowing rate in the range compatible with achieving their monetary policy objectives. This paper shows that such announcements are costly because they moderate the impact of changes in supply achieved through OMOs. Nevertheless, communication of OMOs is desirable because it improves the transparency of the funding market, which makes the price of liquidity—a key input into economic decision making—more reflective of underlying demand and supply of liquidity"--Abstract, page ii.
650	0|aOpen market operations|zCanada.
650	0|aOvernight funds|zCanada.
650	0|aSecurities lending|zCanada.
650	6|aMarché libre|zCanada.
650	6|aArgent au jour le jour|zCanada.
650	6|aPrêts-emprunts de titres|zCanada.
710	2 |aBank of Canada, |eissuing body.
830	#0|aStaff working paper (Bank of Canada)|x1701-9397 ; |v2020-35.|w(CaOODSP)9.806221
856	40|qPDF|s638 KB|uhttps://publications.gc.ca/collections/collection_2020/banque-bank-canada/FB3-5-2020-35-eng.pdf