January 18, 2012
Publications
-
-
-
January 9, 2012
Business Outlook Survey - Winter 2011-12
Responses to the winter survey suggest that the global economic outlook and concerns about demand continue to weigh on firms’ expectations for business activity. -
January 9, 2012
Senior Loan Officer Survey - Fourth-Quarter 2011
The survey results indicate almost no change in overall business-lending conditions during the fourth quarter of 2011. This follows several consecutive quarters of easing credit conditions for business borrowers. -
-
-
-
December 8, 2011
Financial System Review - December 2011
In this issue of the Financial System Review, the Bank of Canada’s Governing Council judges that the risks to the stability of Canada’s financial system are high and have increased markedly over the past six months, owing primarily to an escalation of the sovereign debt crisis in the euro area and a weaker global economic outlook.
Erratum: The data for Chart 7 on page 8 were plotted incorrectly. See revised chart.
-
November 28, 2011
Quarterly Financial Report - Third Quarter 2011
Quarterly Financial Report - Third Quarter 2011 - For the period ended 30 September 2011 -
November 17, 2011
The International Monetary System: An Assessment and Avenue for Reform
The current international monetary system is in need of reform. This article first provides an assessment of the existing system, highlighting both its strengths and weaknesses. It notes that the system has not facilitated the symmetric and timely adjustment in the real exchange rate necessary to accommodate the integration of China and other emerging-market economies into the global economy. This lack of adjustment contributed to the global financial crisis and recession and, because it is forestalling the required rotation of global demand, is hindering the global recovery. The article then discusses reform of the system that would see all systemically important countries and currency areas adopt market-based and convertible floating exchange rates supported by appropriate monetary, fiscal and financial sector policy frameworks. It also examines the roles of the G-20 countries and major international financial institutions in promoting and facilitating the system’s transition.