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April 6, 2000
Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce
When I appeared before you last April, there was still a high degree of uncertainty in the global economy related to the 1997-98 financial crisis in emerging markets and the associated fall in world commodity prices. -
March 22, 2000
Bank Rate Raised by ¼ Percentage Point to 5½ Per Cent
The Bank of Canada raised its Bank Rate today by ¼ of one percentage point to 5½ per cent. The operating band for the overnight rate was correspondingly increased, and the Bank’s target for the overnight rate is now 5¼ per cent. -
March 9, 2000
The Conduct of Monetary Policy When You Live Next Door to a Large Neighbour
Both in Canada and elsewhere, much ink has been spilled over the past year on the pros and cons of different exchange rate regimes and the implications for monetary policy. -
February 16, 2000
Monetary Policy Report Update – February 2000
Information received since the last Monetary Policy Report, released on 17 November, points to a stronger pace of economic expansion in the United States and Europe than was expected at that time, and confirms the hesitant nature of the recovery in Japan. -
February 16, 2000
Release of the Monetary Policy Report Update
This morning, we released our update to the November 1999 Monetary Policy Report. It gives the Governing Council's latest outlook for the economy and for inflation. Information received since November confirms that our economy performed well last year - expanding by close to 4 per cent between the fourth quarter of 1998 and the fourth […] -
Estimating the Fractional Order of Integration of Interest Rates Using a Wavelet OLS Estimator
The debate on the order of integration of interest rates has long focused on the I(1) versus I(0) distinction. In this paper, we use instead the wavelet OLS estimator of Jensen (1999) to estimate the fractional integration parameters of several interest rates for the United States and Canada from 1948 to 1999. -
Quelques résultats empiriques relatifs à l'évolution du taux de change Canada/États-Unis
This paper explores the extent to which factors other than commodity and energy prices may have contributed to the Canadian dollar's depreciation since the early 1970s. The variables considered include among others budgetary conditions and productivity. -
February 3, 2000
Bank Rate Raised by 1/4 Percentage Point to 5 1/4 Per Cent
The Bank of Canada raised its Bank Rate today by ¼ of one percentage point to 5¼ per cent. The operating band for the overnight rate was correspondingly increased, and the Bank’s target for the overnight rate is now 5 per cent. -
January 29, 2000
Annual Report 1999
The Canadian economy regained strong momentum in 1999 as the U.S. economy remained vigorous, the global economy recovered, and commodity prices moved upwards.