Uncategorized

• April 25, 2007

  Bank of Canada Governor David Dodge will not seek second term

  Media Relations Ottawa, Ontario

  Governor David Dodge has informed the Bank of Canada's Board of Directors and the Minister of Finance that he will not seek a second term as Governor.

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

  Process for selecting a Governor of the Bank of Canada

  Media Relations

  The Board of Directors of the Bank of Canada has initiated a process to find a replacement for the Governor of the Bank of Canada, David Dodge, whose seven year mandate will end on 31 January 2008. The following is the process leading to the appointment of a new Governor.

  Content Type(s): Press, Press releases
• April 24, 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
• April 17, 2007

  Update of Securities Eligible as collateral under the Bank of Canada's Standing Liquidity Facility

  Effective immediately, the Bank of Canada has updated its list of securities eligible as collateral under the Standing Liquidity Facility to include foreign issuer Canadian dollar securities. Foreign issuer securities are subject to the conditions and margins as identified in the Bank's collateral policy as posted on the Bank of Canada website.

  Content Type(s): Press, Market notices
• April 16, 2007

  Business Outlook Survey - Spring 2007

  All indicators of business activity (future sales, expected employment, and investment intentions) have increased relative to the previous survey.

  Content Type(s): Publications, Business Outlook Survey
• April 16, 2007

  Clarifications to the Terms of Participation in Auctions for Government Securities Distributors

  The Department of Finance and the Bank of Canada have updated the "Terms of Participation in Auctions for Government Securities Distributors."

  Content Type(s): Press, Market notices
• April 12, 2007

  Addition of Two Government Securities Distributors for Government of Canada Securities

  The Bank of Canada, on behalf of the Government of Canada, announces the addition of two new Government Securities Distributors for Government of Canada marketable bonds and treasury bills.

  Content Type(s): Press, Market notices
• April 12, 2007

  Dealing with Uncertainty in the Conduct of Monetary Policy

  Remarks Sheryl Kennedy Montréal CFA Society Montréal, Quebec

  The main goal of monetary policy is to help the country achieve strong, sustainable economic performance, and, in doing so, to contribute to rising living standards for Canadians. Experience has shown that the best way for a central bank to meet this goal, given the instruments at its disposal, is by keeping inflation low and stable. Low and stable inflation increases confidence in the future value of money, and allows for clear price signals.

  Content Type(s): Press, Speeches and appearances, Remarks
• April 11, 2007

  Changes in the release times for both the call for tenders for cash-management bills (CMBs) and the preliminary International Securities Identification Numbers (ISINs) for regular treasury bills

  In the Debt Management Strategy 2007/08, the government announced that the release time for call for tenders for cash-management bills (CMBs) will be moved from 10:00 (ET) to 09:45 (ET). Effective 16 April 2007, CMBs call for tenders issued on or after this date will be released at 09:45 (ET). The auction timetable can be found on the Bank of Canada website.

  Content Type(s): Press, Market notices

• Term Structure Transmission of Monetary Policy

  Staff Working Paper 2007-30 Sharon Kozicki, P. A. Tinsley

  Under bond-rate transmission of monetary policy, the authors show that a generalized Taylor Principle applies, in which the average anticipated path of policy responses to inflation is subject to a lower bound of unity. This result helps explain how bond rates may exhibit stable responses to inflation, even in periods of passive policy.

  Content Type(s): Staff research, Staff working papers Topic(s): Interest rates, Monetary policy transmission JEL Code(s): E, E3, E5, N, N1