Why do central banks make public announcements of open market operations? / by Narayan Bulusu.: FB3-5/2020-35E-PDF
"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.
Permanent link to this Catalogue record:
publications.gc.ca/pub?id=9.891416&sl=0
| Department/Agency | Bank of Canada, issuing body. |
|---|---|
| Title | Why do central banks make public announcements of open market operations? / by Narayan Bulusu. |
| Series title | Staff working paper = Document de travail du personnel, 1701-9397 ; 2020-35 |
| Publication type | Series - View Master Record |
| Language | [English] |
| Format | Electronic |
| Electronic document | |
| Note(s) | Cover title. "Last updated: August 31, 2020." Includes bibliographical references (pages 40-44). |
| Publishing information | Ottawa, Ontario, Canada : Bank of Canada = Banque du Canada, 2020. ©2020 |
| Author / Contributor | Bulusu, Narayan, author. |
| Description | 1 online resource (ii, 57 pages) |
| Catalogue number |
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| Subject terms | Open market operations -- Canada. Overnight funds -- Canada. Securities lending -- Canada. Marché libre -- Canada. Argent au jour le jour -- Canada. Prêts-emprunts de titres -- Canada. |