Agathe Côté was appointed Deputy Governor of the Bank of Canada in July 2010. In this capacity, she is one of two deputy governors responsible for overseeing the Bank’s analysis and activities in promoting a stable and efficient financial system. As a member of the Bank’s Governing Council, she shares responsibility for decisions with respect to monetary policy and financial system stability, and for setting the strategic direction of the Bank.
Born in Saint-Hyacinthe, Quebec, Ms. Côté received a bachelor’s degree in economics in 1981 and a master’s degree in economics in 1983, both from the University of Montréal.
Ms. Côté joined the Bank in 1982 as an economist in the International Department and, later, in the Department of Monetary and Financial Analysis. After assuming a series of positions of increasing responsibility, Ms. Côté was appointed Deputy Chief of the Department of Monetary and Financial Analysis in 2000 and, in 2001, Deputy Chief of the Financial Markets Department. From 2003 until 2008, she was Chief of the Bank’s Research Department (now Canadian Economic Analysis). In 2008, Ms. Côté was appointed Adviser to the Governor, with responsibilities in the area of domestic and international monetary policy issues, and Secretary to the Governing Council for Monetary Policy. Ms. Côté has also been a member of Statistics Canada’s Advisory Committee on National Accounts.
Deputy Governor Agathe Côté will discuss the four main responsibilities of the Bank and its economic outlook.
Deputy Governor Agathe Côté discusses the challenges of assessing risks to the financial system and describes models developed by the Bank of Canada to identify, measure, and analyze sources of risk.
Deputy Governor Agathe Côté discusses efforts to strengthen financial infrastructure, specifically the implementation of a central counterparty for repos
In a speech to members of the Financial Markets Association of Canada and Women in Capital Markets, Deputy Governor Agathe Côté discusses risks to the Canadian financial system and reform of the global system.
Why does household financial health matter to the Bank of Canada? It matters because how Canadians spend and how much they spend affect both the conduct of monetary policy and the stability of the financial system.
In November 2006, the Bank of Canada announced its intention to lead a concerted research program over the next few years on the type of monetary policy framework that would best contribute to the economic well-being of Canadians in the decades ahead. The research will focus on two broad questions: whether economic welfare might be [...]
: Monetary policy frameworkFeedback rules are rules aimed at guiding policy-makers as they face the problem of keeping inflation close to a desired path without causing variability elsewhere in the economy. These rules link short-term interest rates, controlled by the central bank, to the rate of inflation and/or its deviation from a target rate.
The authors describe the most popular types of feedback rules and review some simulation results.
: Interest ratesThe existence of a market for Real Return Bonds in Canada provides a direct tool with which to measure market expectations of inflation by comparing the yields on these bonds with those on conventional Government of Canada long-term bonds. However, there are other factors besides inflation expectations that may affect the yield differential. After reviewing these factors, the authors note that they can lead to a potentially large bias in the level of inflation expectations.
The changes in the differential over time may, nonetheless, be a good indicator of movements in long-run inflation expectations. Based on this measure, expectations of long-run inflation have declined since late 1994.
: Interest ratesThis paper provides an extensive survey of the literature on exchange rate volatility and trade, examining both the theory that underlies the work in this area and the results of empirical studies published since 1988.
: Exchange ratesThis study examines different aspects of the international integration of capital markets. In particular, it attempts to determine whether the changes in controls and regulatory policies that have occurred in the past decade have been associated with a greater degree of market integration.
: Balance of payments and components; Financial markets
