Posts

• How Far Can Forecasting Models Forecast? Forecast Content Horizons for Some Important Macroeconomic Variables

  Staff Working Paper 2007-1 John Galbraith, Greg Tkacz

  For stationary transformations of variables, there exists a maximum horizon beyond which forecasts can provide no more information about the variable than is present in the unconditional mean. Meteorological forecasts, typically excepting only experimental or exploratory situations, are not reported beyond this horizon; by contrast, little generally accepted information about such maximum horizons is available for economic variables.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Econometric and statistical methods JEL Code(s): C, C5, C53
• January 30, 2007

  Annual Report 2006

  

  The year 2006 marked a turning point for the Bank of Canada. We successfully completed our medium-term plan, The Way Forward, and began writing a fresh chapter in the Bank’s history based on a new three-year plan. In this annual report, we do more than give an accounting of past achievements. We also provide forward-looking information on the plans and priorities in our new medium-term plan. And as we advance, we are always mindful of the Bank’s original mandate, set out more than 70 years ago, to “promote the economic and financial welfare of Canada.”

  Content Type(s): Publications, Annual Report
• January 25, 2007

  Dodge discusses monetary policy and the economy, calls for stronger IMF

  Media Relations Toronto, Ontario

  "This simple paradigm is very helpful because monetary policy works better when it is understood," the Governor said.

  Content Type(s): Press, Press releases
• January 25, 2007

  Monetary Policy and Developments in the Global and Canadian Economies

  Remarks David Dodge Canadian Netherlands Business and Professional Association, and the European Union Chamber of Commerce in Toronto Toronto, Ontario

  The Bank of Canada has been around for over 70 years. Throughout this period, the Bank has had one over-arching mandate: to promote the economic and financial welfare of Canadians. Over the years, we have learned that the best contribution that monetary policy can make in this regard is to give Canadians confidence in the future value of their money.

  Content Type(s): Press, Speeches and appearances, Remarks
• January 23, 2007

  Bank of Canada Review - Winter 2006-2007

  

  Cover page

  French Provincial Issues in Canada

  The coins pictured on the cover are part of the National Currency Collection, Bank of Canada.
  Photography by Gord Carter, Ottawa.

  Content Type(s): Publications, Bank of Canada Review
• January 18, 2007

  Bank of Canada releases Monetary Policy Report Update

  Media Relations Ottawa, Ontario

  he Bank of Canada today released the January update to the Monetary Policy Report, which discusses current economic and financial trends in the context of Canada's inflation-control strategy.

  Content Type(s): Press, Press releases
• January 18, 2007

  Release of the Monetary Policy Report Update

  Opening statement David Dodge

  The Canadian economy is judged to have been operating at, or just above, its production capacity at the end of 2006, following weaker-than-expected growth in the second half of last year. This slowdown stemmed from reduced demand for Canadian exports - related to weakness in the U.S. automotive and housing sectors - and from the need for Canadian businesses to adjust inventories.

  Content Type(s): Press, Speeches and appearances, Opening statements
• January 16, 2007

  Bank of Canada keeps target for the overnight rate at 4 1/4 per cent

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced that it is maintaining its target for the overnight rate at 4 1/4 per cent.

  Content Type(s): Press, Press releases
• January 16, 2007

  Monetary Policy Report Update – January 2007

  The global economy has continued to expand robustly. However, U.S. economic growth slowed in 2006, with the weakness concentrated in the automotive and housing sectors.

  Content Type(s): Publications, Monetary Policy Report
• January 8, 2007

  Business Outlook Survey - Winter 2006-07

  On balance, businesses expect their sales over the next 12 months to increase at a rate slightly above that posted during the preceding 12 months. Hiring and investment intentions have not changed significantly since the last survey.

  Content Type(s): Publications, Business Outlook Survey