Uncategorized

• April 29, 2003

  Opening Statement before the House of Commons Finance Committee

  Opening statement David Dodge 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.

  Content Type(s): Press, Speeches and appearances, Opening statements
• April 23, 2003

  Release of the Monetary Policy Report

  Opening statement David Dodge

  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.

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

  Content Type(s): Publications, Monetary Policy Report
• April 15, 2003

  Bank of Canada raises overnight rate target by 1/4 percentage point to 3 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 3 1/4 per cent.

  Content Type(s): Press, Press releases
• 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.

  Content Type(s): Press, Market notices
• April 7, 2003

  Focusing on the Long Term

  Remarks David Dodge Canadian Council of Chief Executives Washington, D.C.

  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.

  Content Type(s): Press, Speeches and appearances, Remarks

• Bank Lending, Credit Shocks, and the Transmission of Canadian Monetary Policy

  Staff Working Paper 2003-9 Joseph Atta-Mensah, Ali Dib

  The authors use a dynamic general-equilibrium model to study the role financial frictions play as a transmission mechanism of Canadian monetary policy, and to evaluate the real effects of exogenous credit shocks. Financial frictions, which are modelled as spreads between deposit and loan interest rates, are assumed to depend on economic activity as well as on credit shocks.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Monetary policy framework, Monetary policy transmission JEL Code(s): E, E3, E32, E4, E5, E51

• A Comparison of Twelve Macroeconomic Models of the Canadian Economy

  Technical Report No. 94 Denise Côté, John Kuszczak, Jean-Paul Lam, Ying Liu, Pierre St-Amant

  In this report, the authors examine and compare twelve private and public sector models of the Canadian economy with respect to their paradigm, structure, and dynamic properties. These open-economy models can be grouped into two economic paradigms.

  Content Type(s): Staff research, Technical reports Topic(s): Economic models, Monetary policy and uncertainty JEL Code(s): C, C5, E, E5, E52, E58
• March 21, 2003

  Market Consultations—December 2002: Summary of Comments

  Overall, market participants agreed that domestic borrowing programs are operating smoothly and participants have also reacted positively to potential program initiatives and adjustments that the Bank of Canada and the Department of Finance are considering for 2003/04.
• March 21, 2003

  Debt Management Strategy: Market Consultations for 2003/04 - Summary of Comments

  In December 2002, officials from the Department of Finance and the Bank of Canada consulted with market participants on a number of issues related to domestic debt programs. Comments received were taken into consideration in the development of the debt strategy for 2003/04.

  Content Type(s): Press, Market notices