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The Application of Artificial Neural Networks to Exchange Rate Forecasting: The Role of Market Microstructure Variables
Artificial neural networks (ANN) are employed for high-frequency Canada/U.S. dollar exchange rate forecasting. ANN outperform random walk and linear models in a number of recursive out-of- sample forecasts. -
December 5, 2000
Bank of Canada keeps Bank Rate at 6 per cent
The Bank of Canada today announced that it is maintaining the Bank Rate at 6 per cent. The operating band for the overnight rate is unchanged, and the Bank’s target for the overnight rate remains at 5 3/4 per cent. -
December 4, 2000
Why a Floating Exchange Rate Regime Makes Sense for Canada
One of the issues that has often surfaced over the years is the exchange rate for the Canadian dollar. Indeed, over the past couple of years, it has been a topic of considerable public discussion. -
December 1, 2000
Market Views Sought on Issues Relating to the Design and Operation of Government Debt Programs over 2001-02
A consultation document on issues relating to the design and operation of government debt programs over 2001-2002, prepared jointly by the Department of Finance and the Bank of Canada, is being made public today. -
December 1, 2000
Debt Strategy Consultations 2001—02
Overview The purpose of the consultations is to obtain market views on issues relating to the design and operation of government debt programs over 2001—02, with a focus on the Treasury bill program. The following provides a brief description of the issues to be covered: Context The objectives of debt strategy are to provide stable, […] -
December 1, 2000
Background Note on the Treasury Bill Program
1. Introduction This year, the average outstanding stock of treasury bills has been about $85 billion, about half of where it was (almost $165 billion) five years ago. The turnover ratio (the trading volume to the outstanding stock of bills) has declined by even more, to less than half the rate of five years ago. As part […] -
November 29, 2000
Government of Canada Pilot Cash Management Bond Buyback Program Launch: Operational Framework
On behalf of the Minister of Finance, the Bank of Canada announced today that the government will be proceeding on a pilot basis with a bond buyback program for cash management purposes. The program is designed to reduce the peak levels of government cash balances needed to redeem large upcoming maturities of Government of Canada marketable bonds. Design of the operational framework has been based on consultations with market participants. -
November 28, 2000
Bank of Canada to Offer Term SPRAs and May Purchase BAs over Year-end
The Bank of Canada today announced its intention to temporarily add assets to its balance sheet to offset the anticipated $2 billion to $3 billion seasonal increase in the demand for bank notes. These operations have no monetary policy significance. -
November 9, 2000
Monetary Policy Report – November 2000
Over the last six months, most countries have continued to register strong economic growth.