Posts

• January 30, 2008

  Opening Statement before the House of Commons Standing Committee on Industry, Science and Technology

  Opening statement Paul Jenkins House of Commons Standing Committee on Industry, Science and Technology

  To begin, as a little background I would like to quickly review the framework within which we conduct Canada's monetary policy. 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."

  Content Type(s): Press, Speeches and appearances, Opening statements
• January 30, 2008

  Annual Report 2007

  

  The year 2007 was marked by sharply increased volatility in financial and foreign exchange markets, and a widening of credit spreads. Despite financial market turbulence, the Canadian economy continued to expand, and inflation remained close to our target of 2 per cent. In this, my final Annual Report message, I begin by reviewing the economic and financial developments and challenges of the past year. I then highlight seven important ongoing challenges faced by Canada and the Bank during my seven years as Governor.

  Content Type(s): Publications, Annual Report
• January 24, 2008

  Bank of Canada releases Monetary Policy Report Update

  Media Relations Ottawa, Ontario

  The Bank of Canada today released its January Monetary Policy Report Update.

  Content Type(s): Press, Press releases
• January 24, 2008

  Monetary Policy Report Update – January 2008

  The Canadian economy grew broadly in line with the Bank’s expectations in the second half of 2007.

  Content Type(s): Publications, Monetary Policy Report
• January 24, 2008

  Release of the Monetary Policy Report Update

  Opening statement David Dodge

  The Canadian economy continues to operate above its production capacity, despite some slowing in growth and inflation in the fourth quarter of 2007. Financial conditions have deteriorated since October, leading to tighter credit conditions in industrialized countries.

  Content Type(s): Press, Speeches and appearances, Opening statements
• January 22, 2008

  Bank of Canada lowers overnight rate target by 1/4 percentage point to 4 per cent

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of one percentage point to 4 per cent.

  Content Type(s): Press, Press releases

• A Wave of Protectionism? An Analysis of Economic and Political Considerations

  Staff Working Paper 2008-2 Philipp Maier

  In light of the U.S. current account deficit, pressure is high on Asian countries to revalue their currencies. The calls from some U.S. policymakers for tariffs on imports from China has sparked fears that this could trigger a world-wide surge in protectionism.

  Content Type(s): Staff research, Staff working papers Topic(s): International topics, Recent economic and financial developments, Regional economic developments JEL Code(s): E, E6, E66, F, F3, F32, F4, F47

• The Carry Trade, Portfolio Diversification, and the Adjustment of the Japanese Yen

  Staff Discussion Paper 2008-2 Corinne Luu

  In this paper, the author considers whether fundamentals or other factors can explain the yen's ongoing weakness. In particular, the importance of capital outflows due to the carry trade and longer-term portfolio investment outflows, which may be delaying the adjustment of the yen, are investigated. A simple portfolio model is developed, composed of a speculative […]

  Content Type(s): Staff research, Staff discussion papers Topic(s): Exchange rates, International topics, Recent economic and financial developments JEL Code(s): F, F2, F21, F3, F31, F32, G, G1, G11

• An Overview of Carbon Markets and Emissions Trading: Lessons for Canada

  Staff Discussion Paper 2008-1 Michael R. King

  The author provides an overview of carbon markets and explains how emissions trading can be important in encouraging the reduction of CO2 emissions in an efficient manner. He describes the key steps in establishing a cap-and-trade system, and reviews the European experiences with emissions trading. He highlights the lessons learned from the EU Emissions Trading […]

  Content Type(s): Staff research, Staff discussion papers Topic(s): International topics, Market structure and pricing JEL Code(s): D, D4, N, N5, N50, Q, Q2, Q21
• January 18, 2008

  Changes in Minimum Bank of Canada Nominal Bond Purchases at Auctions

  Section 5.1 of the Statement of Policy Governing the Acquisition and Management of Financial Assets for the Bank of Canada's Balance Sheet states that "The Bank's holdings of Government of Canada nominal bonds and treasury bills are structured to broadly reflect the composition of the federal government's stock of nominal domestic marketable debt."

  Content Type(s): Press, Market notices