Uncategorized
-
-
An Index of Financial Stress for Canada
The authors develop an index of financial stress for the Canadian financial system. Stress is defined as the force exerted on economic agents by uncertainty and changing expectations of loss in financial markets and institutions. -
May 13, 2003
Policies to Sustain Growth Domestically and Internationally
I have been looking forward to coming to Amsterdam since Governor Wellink extended the invitation last year. I must say that when you consider what has been happening in the world economy, it is certainly an interesting time to be a Canadian at international meetings such as the BIS meeting I attended yesterday. -
April 30, 2003
Opening Statement before the Senate Banking, Trade and Commerce Committee
The last time I testified before this committee was in the spring of 2002, because we were unable to arrange our regular meeting last fall. You will recall that following the 11 September 2001 terrorist attacks in the United States, we quickly and aggressively cut our policy interest rate to shore up confidence and support domestic demand. By last spring, evidence had already started to build that demand was growing faster than the economy's production capacity. -
April 29, 2003
Opening Statement before the House of Commons Finance Committee
Last week, we released our spring Monetary Policy Report, in which we discuss economic and financial trends in the context of Canada's inflation-control strategy. I last testified before this committee in October, following the release of our autumn Monetary Policy Report. -
April 23, 2003
Release of the Monetary Policy Report
Since our October 2002 Monetary Policy Report, both core and total CPI inflation have been well above the 2 per cent inflation target. In this environment, inflation expectations have edged up. -
April 23, 2003
Monetary Policy Report – April 2003
The global economic outlook has been clouded by a high degree of uncertainty, accentuated most recently by the war in Iraq. -
April 15, 2003
Bank of Canada raises overnight rate target by 1/4 percentage point to 3 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 3 1/4 per cent. -
April 8, 2003
Change in timing of auction of Government of Canada treasury bills from 12:30 p.m. to 10:30 a.m. (Ottawa time) starting 17 June 2003
In its Debt Management Strategy 2003/04, the government announced that the auction time for treasury bills would be moved to 10:30 a.m., on a trial basis, starting 22 April 2003. -
April 7, 2003
Focusing on the Long Term
It has not been an easy year. All of you have been running companies and making decisions under very uncertain conditions. You have had to deal with corporate and accounting issues. Markets have been volatile. And geopolitical events have shaken confidence.