Uncategorized

• October 8, 2004

  Business Outlook Survey - Autumn 2004

  Businesses remain essentially as optimistic about the economic outlook as they were in the summer survey. Although they have marked down their growth forecast for the U.S. economy, businesses expect stronger domestic demand.

  Supplemental questions on the appreciation of the Canadian dollar - October 2004

  Content Type(s): Publications, Business Outlook Survey
• October 7, 2004

  Global Economic Developments and the Implications for Ontario

  Remarks David Dodge Ontario Economic Summit Niagara-on-the-Lake, Ontario

  One theme that I heard repeatedly in Washington is that 2004 is turning out to be a better year than many had thought, particularly over the first half of the year. Indeed, the IMF is now projecting global economic growth of 5 per cent in 2004, which would be a marked improvement from the 3.9 per cent rate seen in 2003.

  Content Type(s): Press, Speeches and appearances, Remarks
• September 28, 2004

  Survey of Foreign Exchange and Derivatives Market Activity in Canada

  Media Relations Ottawa, Ontario

  Summary results of a survey of activity in Canadian foreign exchange and derivatives markets conducted by the Bank of Canada in April 2004 are now available. Similar surveys were undertaken in 51 other countries during the same month, and the central banks of many of those countries are also releasing their results today.

  Content Type(s): Press, Press releases Source(s): Canadian Foreign Exchange Committee
• September 23, 2004

  Changes in Minimum Bank of Canada Bond Purchases at Auctions

  Starting in 1996, the Bank of Canada began adjusting the relative amounts of Government of Canada treasury bills and bonds held on its balance sheet to more closely approximate the proportions of outstanding government debt.

  Content Type(s): Press, Market notices
• September 20, 2004

  Canadian Monetary Policy in an Evolving World Economy

  Remarks David Dodge Canadian Chamber of Commerce Calgary, Alberta

  The Bank does look to the Chamber to help us understand how economic developments are unfolding at the industry level. And I particularly want to thank the Chamber for being an ongoing partner in our efforts to smoothly introduce three new high-denomination bank notes this year.

  Content Type(s): Press, Speeches and appearances, Remarks
• September 13, 2004

  Modifications to the minimum bidding requirements and the maximum bidding limit at auctions of non-fungible Cash Management Bills (CMBs).

  Effective September 15, for a trial period lasting at least 12 months, minimum bidding requirements and maximum bidding limits will be suspended for auctions of Cash Management Bills (CMBs) which are non-fungible (i.e., do not share a common maturity date with a previously-issued 3-, 6- or 12-month treasury bill). All other provisions of the Terms of Participation will continue to apply to auctions of non-fungible CMBs.

  Content Type(s): Press, Market notices
• September 8, 2004

  Bank of Canada raises target for the overnight rate by 1/4 percentage point to 2 1/4 per cent

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 2 1/4 per cent. The operating band for the overnight rate is correspondingly increased, and the Bank Rate is now 2 1/2 per cent.

  Content Type(s): Press, Press releases

• Market Valuation and Risk Assessment of Canadian Banks

  Staff Working Paper 2004-34 Ying Liu, Mingwei Yuan, Eli Papakirykos

  The authors apply the asset-valuation model developed by Rabinovitch (1989) to six publicly traded Canadian banks over the period 1982–2002.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions JEL Code(s): G, G1, G12, G2, G21
• August 21, 2004

  The Canadian Experience with Counterfeiting

  Bank of Canada Review - Summer 2004 John Chant

  Counterfeiting poses a significant public policy issue because of the important role that paper money plays in Canada's payments system. Yet the threat of counterfeiting in all economies has increased markedly in the past decade as a result of technological advances to photocopiers and computer printers. An appropriate public policy response is thus necessary to maintain the public's continued confidence in the national currency. To assess the threat from counterfeiting, including possible loss of confidence in the currency, estimating the stock of counterfeits circulating is necessary. In this article, Chant proposes a composite method of detecting counterfeits as an effective alternative to existing methods and offers estimates of the extent of counterfeiting Canadian currency for 2001. An Addendum to the article summarizes Chant's methods and updates the calculations to 2003.

  Content Type(s): Publications, Bank of Canada Review articles Topic(s): Bank notes
• August 12, 2004

  Canada's new $20 bank note to be unveiled on 25 August 2004

  Media Relations Ottawa, Ontario

  Canada's new $20 bank note will be unveiled on Wednesday, 25 August 2004, in Vancouver, British Columbia. The new $20 bank note celebrates Canadian arts and culture and features the work of Bill Reid, one of Canada's most accomplished artists.

  Content Type(s): Press, Press releases