Explore the primary tools used by the Bank of Canada to implement monetary policy, including the target for the overnight rate, open market operations, and drawdowns/redeposits. Understand the role of SPRAs and SRAs in controlling the money supply and their impact on interest rates and economic activity.
Explore the role of open market operations in Canadian monetary policy, focusing on Special Purchase and Resale Agreements (SPRAs) and Sale and Repurchase Agreements (SRAs).