Uncategorized

• 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.

  Content Type(s): Publications, Monetary Policy Report
• February 16, 2000

  Release of the Monetary Policy Report Update

  Opening statement Gordon Thiessen

  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 […]

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

• Estimating the Fractional Order of Integration of Interest Rates Using a Wavelet OLS Estimator

  Staff Working Paper 2000-5 Greg Tkacz

  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.

  Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Interest rates JEL Code(s): C, C1, C13, E, E4, E43

• Quelques résultats empiriques relatifs à l'évolution du taux de change Canada/États-Unis

  Staff Working Paper 2000-4 Ramdane Djoudad, David Tessier

  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.

  Content Type(s): Staff research, Staff working papers Topic(s): Exchange rates JEL Code(s): F, F3, F31
• February 3, 2000

  Bank Rate Raised by 1/4 Percentage Point to 5 1/4 Per Cent

  Media Relations Ottawa, Ontario

  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.

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

  Content Type(s): Publications, Annual Report
• January 27, 2000

  Accountability and Transparency in Canada's Monetary Policy

  Remarks Gordon Thiessen Metropolitan Halifax Chamber of Commerce Halifax, Nova Scotia

  Public sector institutions have been undergoing significant changes over the past decade. One of the most important changes has been the move to greater accountability. Public institutions are now required to be more open and to provide more information about their operations. Or, to use the word currently in vogue, to be more “transparent.”

  Content Type(s): Press, Speeches and appearances, Remarks
• December 6, 1999

  The Canadian economy, productivity, and our standard of living

  Remarks Gordon Thiessen The Fraser Institute Vancouver, British Columbia

  Over the past couple of years, there has been considerable debate about productivity and our standard of living in Canada. For the most part, the discussion of these issues has been useful, but at times it has been somewhat confusing.

  Content Type(s): Press, Speeches and appearances, Remarks
• November 17, 1999

  Monetary Policy Report – November 1999

  Since the May Report, the international economic environment has continued to improve. Economic activity abroad grew faster than expected, while inflation in the major economies remained subdued.

  Content Type(s): Publications, Monetary Policy Report
• November 17, 1999

  Release of the Monetary Policy Report

  Opening statement Gordon Thiessen

  Good morning. The Bank of Canada has just released its tenth Monetary Policy Report. This morning, we also raised our target for the overnight interest rate by 1/4 of one percentage point to 4 3/4 per cent. This follows a similar increase yesterday in the U.S. Federal Funds rate to 5 ½ per cent. The […]

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