Speeches
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November 6, 2007
North America in Today's Global Economic Setting
In recent months, much has been said, and written, about developments in financial markets. The turbulence in global credit markets, which had its roots in developments in the market for subprime mortgages here in the United States, has been a focal point of attention for market participants and policy-makers around the world. -
October 21, 2007
Credit Market Turbulence and Policy Challenges Ahead
Given the Institute's membership and its focus on financial stability, I feel safe in saying that all of us here today watched this summer's turbulence in credit markets with interest, to put it mildly. What began in the spring as a repricing of credit risk turned into dislocations that have yet to fully run their course. -
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October 18, 2007
Release of the Monetary Policy Report
Since the July Monetary Policy Report Update, and against a backdrop of robust global economic expansion and strong commodity prices, the Canadian economy has been stronger than projected. It is now operating further above its production potential than had been previously expected. -
October 3, 2007
Liquidity, Liquidity, Liquidity
Sound financial investment is important to individuals, to firms, and to society as a whole. By definition, investment is forward looking, and thus our future financial well-being is shaped by the soundness of the investment decisions we make today. -
September 25, 2007
Turbulence in Credit Markets: Causes, Effects, and Lessons To Be Learned
The turbulence in financial markets did not come about against a backdrop of economic weakness. Indeed, over the past number of years, the global economy has shown remarkable strength. We were also seeing encouraging signs of growth being spread more evenly. -
September 12, 2007
A Clear Case for Transparency
We have seen a remarkable continuation of robust global growth, fuelled by increases in international trade and facilitated by the continuing evolution and expansion of capital markets. Domestic demand began to grow more strongly in Europe and Asia and to slow in the United States, and this began to ease some of the concerns related to global imbalances that I spoke about during my last visit. -
August 27, 2007
The Bank of Canada's Research Agenda and the Future of Inflation Targeting
The last few weeks have been a time of turbulence in financial markets. In times such as these, it is common for people to focus on day-by-day or even hour-by-hour events, and to lose sight of the future. But tonight, I want to focus on the future; specifically, the future of inflation targeting in Canada. -
July 12, 2007
Release of the Monetary Policy Report Update
Economic growth and inflation in Canada in the first half of this year have been stronger than was expected in the April Monetary Policy Report. The Bank judges that the economy is now operating further above its production potential than was projected in April.