Publications

• April 14, 2005

  Monetary Policy Report – April 2005

  

  The global economy has been unfolding largely as expected, and prospects for continued robust growth are quite favourable, especially over the near term.

  Content Type(s): Publications, Monetary Policy Report
• April 4, 2005

  Business Outlook Survey - Spring 2005

  Businesses are more optimistic about the economic outlook than in the winter survey. The greater stability of the Canadian dollar in the three months since the previous survey has helped to ease concerns among exporters. Businesses continue to expect strong domestic sales.

  Content Type(s): Publications, Business Outlook Survey
• March 28, 2005

  The Thiessen Lectures

  Lectures delivered by Gordon G. Thiessen, Governor of the Bank of Canada 1994 to 2001

  Content Type(s): Publications, Books and monographs
• January 30, 2005

  Annual Report 2004

  

  The Bank of Canada has played an integral role in Canadian society for 70 years. When the Bank opened its doors in the spring of 1935, this country was struggling to define itself and to survive the economic and social turmoil of the Great Depression. Like Canada’s economy, its central bank has evolved and grown over the years. It has faced critical challenges and embraced change. But the Bank’s mandate has not changed. It is now, as it was then, to provide an effective, national monetary authority for Canada.

  Content Type(s): Publications, Annual Report
• January 27, 2005

  Monetary Policy Report Update – January 2005

  The adjustment of the Canadian economy to major global developments continues to shape the economic outlook.

  Content Type(s): Publications, Monetary Policy Report
• January 25, 2005

  Bank of Canada Review - Winter 2004-2005

  

  Cover page

  Promissory Notes

  The notes featured on the cover measure approximately 21 cm x 8 cm and form part of the National Currency Collection, Bank of Canada.

  Photography by Gord Carter, Ottawa

  Content Type(s): Publications, Bank of Canada Review
• January 17, 2005

  Business Outlook Survey - Winter 2004-05

  Businesses remain positive about the economic outlook but less so than in the autumn survey. The appreciation of the Canadian dollar between the survey periods has heightened uncertainty among businesses and dampened the expectations of those adversely affected by the rising dollar.

  Supplemental questions on the appreciation of the Canadian dollar - Winter 2004-05

  Content Type(s): Publications, Business Outlook Survey
• December 31, 2004

  Summary of Government of Canada - Outstanding as at 31 December 2004

  Content Type(s): Publications, Historical: Securities and loans
• December 25, 2004

  The Bank of Canada as Lender of Last Resort

  Bank of Canada Review - Winter 2004-2005 Fred Daniel, Walter Engert, Dinah Maclean

  As the ultimate provider of Canadian-dollar liquidity to the financial system, the Bank of Canada has the unique capacity to create Canadian-dollar claims on the central bank and the power to make secured loans or advances to chartered banks and other members of the Canadian Payments Association. The Bank supplies overnight credit on a routine basis through the Standing Liquidity Facility (SLF) to direct participants in the Large Value Transfer System, and Emergency Lending Assistance (ELA) to solvent deposit-taking institutions that require more substantial and prolonged credit. The authors review the policy framework that guides the Bank's lender-of-last-resort function, including the key issues, terms and conditions, and eligibility criteria associated with its SLF and ELA activities. Also discussed are foreign currency ELA, the relationship between SLF and ELA, systemic risk and Bank of Canada intervention, and the potential provision of liquidity to major clearing and settlement systems.

  Content Type(s): Publications, Bank of Canada Review articles Topic(s): Financial stability, Lender of last resort, Payment clearing and settlement systems
• December 24, 2004

  Government of Canada Yield-Curve Dynamics, 1986-2003

  Bank of Canada Review - Winter 2004-2005 Grahame Johnson

  A database of historical Government of Canada zero-coupon yield curves developed at the Bank of Canada is introduced in this article, which also includes an initial statistical analysis of the behaviour and evolution of the zero-coupon interest (spot) rates over the full period and two distinct subperiods. Specific areas of interest include the evolution of the levels of key interest rates and yield-curve measures over the sample as well as daily changes in the key interest rates and the yield-curve measures; the identification of a relatively small number of factors that drove the evolution of the yield curve; and the total returns that would have been realized by holding bonds of different maturities for a given holding period.

  Content Type(s): Publications, Bank of Canada Review articles Topic(s): Debt management, Econometric and statistical methods, Financial markets