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September 29, 1998
Survey of Foreign Exchange and Derivatives Market Activity in Canada
Summary results of a survey of Canadian foreign exchange and derivatives markets are now available. The survey was conducted by the Bank of Canada in April 1998 and covered activity in the foreign exchange and derivatives markets. Similar surveys were undertaken by about 40 other countries during the same month, and the central banks of many of those countries are also releasing their results today. -
September 29, 1998
Bank Rate Lowered by ¼ Percentage Point to 5¾ Per Cent
The Bank of Canada today lowered its Bank Rate by ¼ of one percentage point to 5¾ per cent. -
September 23, 1998
Global uncertainties and the Canadian economy
This past year, we have had to deal with the implications for our economy and our currency of increased global uncertainty and pressures arising from the problems that originated in Southeast Asia. I am sure that the effects of these developments, especially on primary commodities, such as oil and nickel, are already very familiar to Newfoundlanders. -
August 27, 1998
Bank Rate Raised by 1 Percentage Point
The Bank of Canada today raised its Bank Rate by one percentage point to 6 per cent. -
Liquidity Effects and Market Frictions
The goal of this paper is to shed light on the nature of the monetary transmission mechanism. Specifically, we attempt to tackle two problems in standard limited-participation models: (1) the interest rate liquidity effect is not as persistent as in the data; and (2) some nominal variables are unrealistically volatile. To address these problems, we […] -
June 11, 1998
The outlook for the Canadian economy and monetary policy
In mid-May we published our semi-annual Report on monetary policy, covering data up to April 24th. That means we now have new data available for the last two months. Furthermore, our report also pointed to a much greater-than-usual degree of uncertainty about the outlook for the Canadian economy. -
May 28, 1998
Opening Statement before the House of Commons Standing Committee on Finance
Mr. Chairman, my colleagues and I are pleased to appear before your committee on a regular basis following the release of the Bank of Canada's Monetary Policy Report. It gives us a chance to discuss with you a range of economic and monetary issues. More generally, our semi-annual Report and sessions such as this one […] -
May 27, 1998
Globalized Financial Markets and Monetary Policy
Globalization - that is, the growing integration and interdependence of national economies - is changing dramatically the economic landscape. Countries are trading more goods and services, an increasing number of firms now operate across national borders, and savers and borrowers have greater access than ever before to global financial markets. -
May 13, 1998
Monetary Policy Report – May 1998
Canada’s inflation-control targets establish a specific medium-term objective for monetary policy.