Uncategorized

• 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
• November 17, 1999

  Bank Rate Raised by ¼ Percentage Point to 5 Per Cent

  Media Relations Ottawa, Ontario

  The Bank of Canada today raised its Bank Rate by ¼ of one percentage point to 5 per cent.

  Content Type(s): Press, Press releases
• November 2, 1999

  The Challenges for Canadian Monetary Policy in the Year 2000

  Remarks Gordon Thiessen the Greater Charlottetown Area Chamber of Commerce Charlottetown, Prince Edward Island

  Monetary policy actions take a relatively long time to affect the economy and inflation—anywhere between 12 to 24 months. Because of this, central banks must always look ahead and must put in place today the monetary conditions that are needed to help keep the economy on a sustainable path down the road. By 'sustainable' I mean a situation where economic growth and job creation are not at risk from rising inflation.

  Content Type(s): Press, Speeches and appearances, Remarks
• November 1, 1999

  Money, Monetary Policy, and Transmission Mechanisms

  Proceedings of a conference held by the Bank of Canada, November 1999 (proceedings volume, available in electronic format only)

  Content Type(s): Conferences and workshops

• The Regulation of Central Securities Depositories and the Linkages between CSDs and Large-Value Payment Systems

  Technical Report No. 87 Charles Freedman

  This paper first describes the Bank of Canada's approach to the design of large-value clearing and settlement systems. It then examines the way the Bank has operated under the Payment Clearing and Settlement Act, passed by Parliament in July 1996.

  Content Type(s): Staff research, Technical reports Topic(s): Payment clearing and settlement systems JEL Code(s): G, G2, G20
• September 23, 1999

  Canada's economy as the year 2000 approaches

  Remarks Gordon Thiessen the Chamber of Commerce Regina, Saskatchewan

  It is always a pleasure to return and speak to people in my home province. This time, we are here for a meeting of the Bank of Canada's Board of Directors. Once a year, our Board meets outside Ottawa, in a different part of the country. This year, we are delighted to be in Regina.

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

• Greater Transparency in Monetary Policy: Impact on Financial Markets

  Technical Report No. 86 Philippe Muller, Mark Zelmer

  Measures have been taken by the Bank of Canada to increase the transparency of Canadian monetary policy. This paper examines whether the greater transparency has improved financial markets' understanding of the conduct of monetary policy.

  Content Type(s): Staff research, Technical reports Topic(s): Financial markets, Monetary policy implementation JEL Code(s): E, E5, E52, E58, G, G1, G14

• Why Canada Needs a Flexible Exchange Rate

  Staff Working Paper 1999-12 John Murray

  This paper explores the arguments for and against a common currency for Canada and the United States and attempts to determine whether such an arrangement would offer any significant advantages for Canada compared with the present flexible exchange rate system. The paper first reviews the theoretical arguments advanced in the economics literature in support of fixed and flexible currency arrangements. A discussion of Canada's past experience with the two exchange rate systems follows, after which there is a survey of the empirical evidence published on Canada's current and prospective suitability for some form of fixed currency arrangement with the United States. The final section of the paper examines critically a number of concerns raised about the behaviour of the current flexible exchange rate system.

  Content Type(s): Staff research, Staff working papers Topic(s): Exchange rates JEL Code(s): F, F3, F31
• June 2, 1999

  Canadian economic performance at the end of the twentieth century

  Remarks Gordon Thiessen the Canada Club London, United Kingdom

  As the curtain comes down on the twentieth century and we move on to the next millennium, it is difficult to resist the temptation to be both retrospective and prospective.

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