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Lecture Macroeconomics - Chapter 14: The bank of Canada and monetary policy

Chapter 14 introduce to the bank of Canada and monetary policy. In this chapter you will learn: The main functions of the bank of Canada, how the Bank of Canada can expand or contract the money supply, the components of money demand, how the equilibrium interest rate is determined in the money market, the mechanism by which the interest rate affects GDP. | The Bank of Canada and Monetary Policy Chapter 14 SLIDES PREPARED BY JUDITH SKUCE, GEORGIAN COLLEGE In this chapter you will learn The main functions of the Bank of Canada How the Bank of Canada can expand or contract the money supply The components of money demand How the equilibrium interest rate is determined in the money market The mechanism by which the interest rate affects GDP Chapter 14 Topics Goals of Monetary Policy Functions of the Bank of Canada Consolidated Balance Sheet of the Bank of Canada Tools of Monetary Policy The Demand for Money The Money Market Monetary Policy, Real GDP, & the Price Level Effectiveness of Monetary Policy Current Focus: The Overnight Loans Rate Monetary Policy & the International Economy The “Big Picture” Goals of Monetary Policy to help the economy to attain a full-employment, noninflationary level of total output by altering the economy’s money supply and interest rates how does this work? Goals of Monetary Policy Increase the money supply . | The Bank of Canada and Monetary Policy Chapter 14 SLIDES PREPARED BY JUDITH SKUCE, GEORGIAN COLLEGE In this chapter you will learn The main functions of the Bank of Canada How the Bank of Canada can expand or contract the money supply The components of money demand How the equilibrium interest rate is determined in the money market The mechanism by which the interest rate affects GDP Chapter 14 Topics Goals of Monetary Policy Functions of the Bank of Canada Consolidated Balance Sheet of the Bank of Canada Tools of Monetary Policy The Demand for Money The Money Market Monetary Policy, Real GDP, & the Price Level Effectiveness of Monetary Policy Current Focus: The Overnight Loans Rate Monetary Policy & the International Economy The “Big Picture” Goals of Monetary Policy to help the economy to attain a full-employment, noninflationary level of total output by altering the economy’s money supply and interest rates how does this work? Goals of Monetary Policy Increase the money supply during a recession to stimulate spending Decrease the money supply during inflation to constrain spending Chapter 14 Topics Goals of Monetary Policy Functions of the Bank of Canada Consolidated Balance Sheet of the Bank of Canada Tools of Monetary Policy The Demand for Money The Money Market Monetary Policy, Real GDP, & the Price Level Effectiveness of Monetary Policy Current Focus: The Overnight Loans Rate Monetary Policy & the International Economy The “Big Picture” Functions of the Bank of Canada 1. The “Bankers’ Bank” 2. Issuing Currency 3. Acting As Fiscal Agent 4. Supervising the Chartered Banks 5. Regulating the Supply of Money Bank of Canada Independence controversial voters hold Parliament responsible Bank must be protected from political pressures Chapter 14 Topics Goals of Monetary Policy Functions of the Bank of Canada Consolidated Balance Sheet of the Bank of Canada Tools of Monetary Policy The Demand for Money The Money Market Monetary Policy, Real GDP, & the Price Level .