January 22, 2009
Opening statements
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October 23, 2008
Release of the Monetary Policy Report
In Canada, our financial system is sound, and our financial institutions are already well capitalized. We are nonetheless affected by global developments. That is why the Bank of Canada has taken extraordinary measures to provide liquidity. -
July 17, 2008
Release of the Monetary Policy Report Update
In the Update, the Bank described three major developments affecting the Canadian economy: protracted weakness in the U.S. economy, ongoing turbulence in global financial markets, and sharp increases in certain commodity prices, particularly energy. -
May 1, 2008
Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce
In it, we noted that growth in the global economy has weakened since the January Monetary Policy Report Update, reflecting the effects of a sharp slowdown in the U.S. economy and ongoing dislocations in global financial markets. Growth in the Canadian economy has also moderated. Buoyant growth in domestic demand, supported by high employment levels and improved terms of trade, has been substantially offset by a fall in net exports. -
April 30, 2008
Opening Statement before the House of Commons Standing Committee on Finance
Growth in the global economy has weakened since the January Monetary Policy Report Update, reflecting the effects of a sharp slowdown in the U.S. economy and ongoing dislocations in global financial markets. Growth in the Canadian economy has also moderated. -
April 24, 2008
Release of the Monetary Policy Report
Growth in the global economy has weakened since the January Monetary Policy Report Update, reflecting the effects of a sharp slowdown in the U.S. economy and ongoing dislocations in global financial markets. Growth in the Canadian economy has also moderated. -
March 12, 2008
Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce
Let me start by saying that the issue of internal trade barriers is critically important, and I'm very pleased, Mr. Chairman, that your committee is examining it. We have reviewed previous submissions to this committee, and you will see that our focus will be slightly different. -
January 30, 2008
Opening Statement before the House of Commons Standing Committee on Industry, Science and Technology
To begin, as a little background I would like to quickly review the framework within which we conduct Canada's monetary policy. The Bank of Canada Act calls on us to mitigate "fluctuations in the general level of production, trade, prices and employment, so far as may be possible within the scope of monetary action, and generally to promote the economic and financial welfare of Canada." -
January 24, 2008
Release of the Monetary Policy Report Update
The Canadian economy continues to operate above its production capacity, despite some slowing in growth and inflation in the fourth quarter of 2007. Financial conditions have deteriorated since October, leading to tighter credit conditions in industrialized countries. -
December 6, 2007
Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce
In Canada, we were looking for weaker economic growth in the fourth quarter of this year and the first half of 2008, but some strengthening thereafter. As you can see from Table 2, we were expecting continued strong final domestic demand throughout the projection period, but considerably weaker net exports.