News

• April 21, 2009

  Bank of Canada lowers overnight rate target by 1/4 percentage point to 1/4 per cent and, conditional on the inflation outlook, commits to hold current policy rate until the end of the second quarter of 2010

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of a percentage point to 1/4 per cent, which the Bank judges to be the effective lower bound for that rate.

  Content Type(s): Press, Press releases
• April 9, 2009

  Bank of Canada Appoints Two Advisers

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced the appointments of David Wolf to the permanent position of Adviser and Jean Boivin to the rotating role of Special Adviser for the term 2009-2010.

  Content Type(s): Press, Press releases
• April 3, 2009

  The Bank of Canada Releases Its Annual Report for 2008

  Media Relations Ottawa, Ontario

  The Bank of Canada's Annual Report for 2008 was tabled in the House of Commons today.

  Content Type(s): Press, Press releases
• April 1, 2009

  Sound Policy Measures will Rebuild Confidence, Guide Economies Through Challenging Times, says Governor Carney

  Media Relations Yellowknife, Northwest Territories

  Although the global and Canadian economies are in recessions triggered by the most severe financial meltdown since the 1930s, Canadians can have confidence that unprecedented policy measures will restore growth, Bank of Canada Governor Mark Carney said today.

  Content Type(s): Press, Press releases
• April 1, 2009

  Rebuilding Confidence in the Global Economy

  Remarks Mark Carney Northwest Territories Chamber of Commerce and Yellowknife Chamber of Commerce Yellowknife, Northwest Territories

  These are very challenging times. The Canadian economy is in recession. The global economy is facing a crisis of confidence, triggered by the most severe financial meltdown since the Great Depression; fanned by sharp falls in trade, manufacturing output, and financial wealth; and intensified by steep increases in unemployment.

  Content Type(s): Press, Speeches and appearances, Remarks
• March 30, 2009

  Canada Offers Important Perspective as G-20 Leaders Pursue Critical Financial Reforms: Governor Carney

  Media Relations Edmonton, Alberta

  As Canadian and international policy-makers work to create a more stable, efficient global financial system, Canada has much to offer from its own experience, Bank of Canada Governor Mark Carney said today.

  Content Type(s): Press, Press releases
• March 30, 2009

  What Are Banks Really For?

  Remarks Mark Carney University of Alberta School of Business Edmonton, Alberta

  Across the world's major economies, addressing the failures of banking ranks among the highest policy priorities. In the harsh glare of the current financial turmoil, it is clear that many banks outside of Canada were either not doing their jobs or were doing them in ways that created enormous risks.

  Content Type(s): Press, Speeches and appearances, Remarks
• March 18, 2009

  Bank of Canada Announces Recipients of 2009 Fellowship and Governor's Awards

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced that Professor David Andolfatto of Simon Fraser University is the recipient of the Bank's Research Fellowship for 2009.

  Content Type(s): Press, Press releases Source(s): Fellowship Program
• March 12, 2009

  Financial System Policy Responses to the Crisis

  Remarks David Longworth Financial Markets Association of Canada Toronto, Ontario

  With your professional interests in foreign exchange, money markets, capital markets, and derivatives, I'm sure the past year and a half has been exciting and interesting – if those are the right words. We've been living through a period of astonishing financial turbulence, historic marketplace losses, and serious threats to financial stability.

  Content Type(s): Press, Speeches and appearances, Remarks
• March 5, 2009

  Opening Statement before the House of Commons Standing Committee on Finance

  Opening statement Pierre Duguay House of Commons Standing Committee on Finance Ottawa, Ontario

  As we have consistently emphasized, stabilization of the global financial system is a precondition for economic recovery, both globally and in Canada. To that end, policy-makers around the globe have acted aggressively and creatively by initiating a series of unprecedented actions aimed at stabilizing the global financial system.

  Content Type(s): Press, Speeches and appearances, Opening statements