December 12, 1997
Uncategorized
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Constraints on the Conduct of Canadian Monetary Policy in the 1990s: Dealing with Uncertainty in Financial Markets
Canada's economic performance in the first half of the 1990s was adversely affected by high premiums in interest rates that were brought on by political and economic uncertainties. -
December 1, 1997
What can monetary policy do to help the economy reach its full potential?
Today, we meet against a backdrop of some uncertainty in the international economy. I would like to begin my remarks with an assessment of what the recent financial and economic events in Asia could mean for Canada. -
November 25, 1997
Bank Rate Raised in Response to Persistent Weakness in the Canadian Dollar
The Bank of Canada today raised the Bank Rate by 1/4 of one percentage point to 4 per cent. The Bank's operating band for the overnight rate was similarly adjusted. -
November 20, 1997
Monetary Policy Report – November 1997
In the last half-year, the economic expansion in Canada has become well established, supported by low inflation, highly stimulative monetary conditions, and a strong U.S. economy. -
October 7, 1997
Challenges ahead for monetary policy
Today, I would like to talk about some of the important issues and challenges facing monetary policy in the period ahead and how the Bank of Canada proposes to deal with them. This is not an unusual topic for me since the business of central banking is seldom without challenges. But what a difference the past two years have made to the challenges we face! -
October 1, 1997
Bank Rate Raised by ¼ Percentage Point
The Bank of Canada today raised the Bank Rate and its operating band for the overnight rate by 1/4 of one percentage point. -
September 16, 1997
The recent economic record in Canada and the challenges ahead for monetary policy
It has been a little over two years since my last public speech to an audience in the United States. During this time, a lot has happened in terms of economic developments in our two countries. One thing that continues to impress me is the remarkable performance of the U.S. economy, which has achieved six years of steady economic expansion, with high rates of job creation and low inflation. -
Measurement of the Output Gap: A Discussion of Recent Research at the Bank of Canada
In this paper, we discuss some methodologies for estimating potential output and the output gap that have recently been studied at the Bank of Canada. The assumptions and econometric techniques used by the different methodologies are discussed in turn, and applications to Canadian data are presented. -
June 26, 1997
Bank Rate Raised 1/4 of a Percentage Point
The Bank of Canada indicated today that it had raised the Bank Rate by 1/4 of one percentage point to 3 1/2 per cent.