Uncategorized

• May 19, 1999

  Monetary Policy Report – May 1999

  Six months ago, at the time of the last Monetary Policy Report, the global economic and financial environment was volatile and highly uncertain because of the adverse situation in Asia and the fallout from the Russian debt moratorium.

  Content Type(s): Publications, Monetary Policy Report
• May 19, 1999

  Release of the Monetary Policy Report

  Opening statement Gordon Thiessen

  This morning we released our ninth Monetary Policy Report. The economic and financial situation is much improved since our previous Report in November. Financial markets have steadied in Southeast Asia, and prospects are good for a gradual recovery there. In Brazil, the authorities have taken major steps to address their difficulties. Overall, global financial markets […]

  Content Type(s): Press, Speeches and appearances, Opening statements
• May 4, 1999

  Global financial turbulence and the Canadian economy

  Remarks Gordon Thiessen La Chambre de commerce de la région sherbrookoise Sherbrooke, Quebec

  The world economy and Canada have had to navigate some difficult straits in the past couple of years. But we have made it through. And considering the tide from the Asian financial crisis that washed around the world, the Canadian economy has coped better this time around than in the past.

  Content Type(s): Press, Speeches and appearances, Remarks
• May 4, 1999

  Bank Rate Lowered by ¼ Percentage Point to 4¾ Per Cent

  Media Relations Ottawa, Ontario

  The Bank of Canada today lowered its Bank Rate by ¼ of one per cent to 4¾ per cent.

  Content Type(s): Press, Press releases
• April 20, 1999

  Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce

  Opening statement Gordon Thiessen Standing Senate Committee on Banking, Trade and Commerce

  Since we have recently tabled the Bank of Canada’s Annual Report in Parliament, I would also be happy to answer any questions you may have about our stewardship of the Bank.

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

• Real Effects of Collapsing Exchange Rate Regimes: An Application to Mexico

  Staff Working Paper 1999-10 Patrick Osakwe, Lawrence L. Schembri

  This paper examines the impact of a collapsing exchange rate regime on output in an open economy in which shocks to capital flows and exports predominate. A sticky-price rational expectations model is used to compare the variability of output under the collapsing regime to that under alternative fixed and flexible regimes. Output is found to […]

  Content Type(s): Staff research, Staff working papers Topic(s): Exchange rates JEL Code(s): F, F3, F31, F4, F41

• Inflation Targeting under Uncertainty

  Technical Report No. 85 Gabriel Srour

  This paper studies the implications of certain kinds of uncertainty for monetary policy. It first describes the optimum policy rule in a simple model of the transmission mechanism as in Ball and Svensson.

  Content Type(s): Staff research, Technical reports Topic(s): Monetary policy and uncertainty, Monetary policy framework JEL Code(s): E, E5, E52
• March 31, 1999

  Bank Rate Lowered by ¼ Percentage Point to 5 Per Cent

  Media Relations Ottawa, Ontario

  The Bank of Canada today lowered its Bank Rate by ¼ of one per cent to 5 per cent. The associated operating band for overnight interest rates was similarly reduced.

  Content Type(s): Press, Press releases
• March 22, 1999

  Financial sector reform, the economy, and monetary policy

  Remarks Gordon Thiessen the Mennonite Savings and Credit Union Kitchener, Ontario

  I am delighted to be with you this evening to celebrate the 35th annual meeting of the Mennonite Savings and Credit Union. On this occasion, I propose to speak about the Canadian economy and monetary policy. But given this audience, I thought I might start with some remarks on the future of the Canadian financial sector - a subject that has certainly grabbed its share of headlines over the past year!

  Content Type(s): Press, Speeches and appearances, Remarks
• March 11, 1999

  Then and now: the change in views on the role of monetary policy since the Porter Commission

  Lecture Gordon Thiessen C.D. Howe Institute Toronto, Ontario

  Tony Hampson made a number of outstanding contributions to Canadian public life as well as having a successful business career. Many in this audience will be familiar with the fact that for a number of years he was Chairman of the C.D. Howe Institute's Policy Analysis Committee.

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