June 21, 2006
News
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June 8, 2006
Floating Dollar, Anchored Inflation: The Role of the Exchange Rate in Canada's Monetary Policy Framework
The two key components of the Bank's monetary policy framework are an "anchor," the inflation target, and a "float," the flexible exchange rate. Living by the ocean, you know better than I that a good mooring is one that keeps a boat in place, yet allows some give and take for the wind and the tide. -
May 30, 2006
Opening Statement before the House of Commons Standing Committee on Industry, Science and Technology
The Bank of Canada Act calls on us to "mitigate … fluctuations in the general level of production, trade, prices and employment, so far as may be possible within the scope of monetary action, and generally to promote the economic and financial welfare of Canada." Over time, it has become clear that the best way for us to fulfill this mandate is to keep inflation low, stable, and predictable. -
May 24, 2006
Bank of Canada raises overnight rate target by 1/4 percentage point to 4 1/4 per cent
The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 4 1/4 per cent. -
May 5, 2006
The Crucial Contribution of the Financial System and Monetary Policy to Economic Development
Many analysts have examined the relationship between the financial system and economic development. They have uncovered some interesting facts regarding the characteristics of the financial system - characteristics that contribute to the best possible allocation of savings to productive investments, which are themselves engines of economic growth. -
May 3, 2006
Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce
Total and core inflation were projected to average close to 2 per cent, beginning in the second half of this year. This projection assumed oil prices at roughly US$64 per barrel, a level then indicated by futures prices. Our projection also assumed stable commodity prices, government spending that was growing roughly in line with revenues, and a Canadian dollar continuing to trade in a range of 85 to 87 cents U.S. -
April 27, 2006
Release of the Monetary Policy Report
The Canadian economy continues to grow at a solid pace, supported by robust global growth, firm commodity prices, and strong domestic demand. At the same time, global competition and the past appreciation of the Canadian dollar continue to pose challenges for a number of sectors. -
April 27, 2006
Bank of Canada releases Monetary Policy Report
The Bank of Canada today released its April Monetary Policy Report (MPR), which discusses current economic and financial trends in the context of Canada's inflation-control strategy. -
April 25, 2006
Bank of Canada raises overnight rate target by 1/4 percentage point to 4 per cent
The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 4 per cent. -
April 7, 2006
Bank of Canada Reassures Canada Savings Bond Payroll Savings Program Clients Following Successful Fraud Investigation
The Bank of Canada today expressed its satisfaction with the successful investigation by the RCMP and the Ottawa Police Service of an incidence of fraudulent activity related to a small number of Canada Savings Bond Payroll Savings Program accounts.