November 29, 2000
Posts
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November 28, 2000
Bank of Canada to Offer Term SPRAs and May Purchase BAs over Year-end
The Bank of Canada today announced its intention to temporarily add assets to its balance sheet to offset the anticipated $2 billion to $3 billion seasonal increase in the demand for bank notes. These operations have no monetary policy significance. -
November 16, 2000
Credit Derivatives
Credit derivatives are a useful tool for lenders who want to reduce their exposure to a particular borrower but are unwilling to sell their claims on that borrower. Without actually transferring ownership of the underlying assets, these contracts transfer risk from one counterparty to another. Commercial banks are the major participants in this growing market, using these transactions to diversify their portfolios of loans and other risky assets. The authors examine the size and workings of this relatively new market and discuss the potential of these transactions for distorting existing incentives for risk management and risk monitoring. -
November 16, 2000
Bank of Canada Review - Autumn 2000
Cover page
Chinese Emergency Money
This note measures approximately six by ten inches, and forms part of the National Currency Collection, Bank of Canada.
Photography by James Zagon.
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November 15, 2000
Recent Performance of the Canadian Economy: A Regional View
This article first outlines the activities of the Bank's regional offices and looks at how regional economic analysis fits into the Bank's decision-making process. The changing role of the regional offices in communications and in information gathering is examined, focusing on the quarterly surveys of industries and associations. The second section reviews, from a regional perspective, economic developments since the Asian crisis and future prospects. -
November 14, 2000
Conference Summary: Money, Monetary Policy, and Transmission Mechanisms
This article summarizes the proceedings of a conference hosted by the Bank of Canada in November 1999. Three major themes emerged at the conference. The first concerned uncertainty about the transmission mechanism by which monetary policy affects output and inflation. The second concerned the potential usefulness of monetary aggregates in guiding the economy along a stable non-inflationary growth path. The third was the recent developments in dynamic monetary general-equilibrium models. The work presented suggests that a wide range of models is useful for understanding the various paths by which monetary policy actions might influence the economy. -
November 13, 2000
Seminar Summary: Price Stability and the Long-Run Target for Monetary Policy
On 8 and 9 June 2000, the Bank held a seminar to examine some key issues affecting the upcoming decision on Canada's inflation-control target for the period after 2001. The main issues covered at the seminar were the extent of downward nominal-wage rigidity and its implications for employment as well as the relative merits of price-level targeting versus inflation targeting. Another critical question that was discussed was how to balance the evidence on all the relevant issues in order to develop an overall view on the appropriate long-run target. The author gives a brief overview of the seminar followed by detailed summaries of individual papers. -
November 9, 2000
Monetary Policy Report – November 2000
Over the last six months, most countries have continued to register strong economic growth. -
November 9, 2000
Release of the Monetary Policy Report
This morning we released our latest Monetary Policy Report. In the six months since the May Report, our economy has outperformed expectations, spurred by strong domestic and foreign demand for Canadian products. We now expect that growth will average 5 per cent in 2000 and 3 to 4 per cent in 2001. Despite this stronger-than-anticipated […] -
November 9, 2000
Bank of Canada releases semi-annual Monetary Policy Report
The Bank of Canada today released its twelfth semi-annual Monetary Policy Report in which it discusses economic and financial trends in the context of Canada’s inflation-control strategy. The Monetary Policy Report is published every May and November.