Posts

• February 17, 2005

  Governor Dodge Discusses the Implications of Currency Movements for Monetary Policy

  Media Relations Vancouver, British Columbia

  Bank of Canada Governor David Dodge said today, that in conducting monetary policy, the Bank analyzes movements in the Canadian dollar in the context of economic and financial data and events.

  Content Type(s): Press, Press releases
• February 17, 2005

  Monetary Policy and Exchange Rate Movements

  Remarks David Dodge Vancouver Board of Trade Vancouver, British Columbia

  Every year, the Canadian Press surveys news directors and editors to select the top business story of the year. In 2004, they picked the rise of the Canadian dollar. That was not a surprising choice.

  Content Type(s): Press, Speeches and appearances, Remarks
• February 4, 2005

  Executive Summary: Foreign Exchange Hedging by Canadian Corporate Accounts

  In December 2004, the Bank of Canada sent those banks who are members of the Canadian Foreign Exchange Committee (CFEC)1 a questionnaire that focused on the foreign exchange hedging activities of their corporate customers. The questionnaire was similar in structure to one that was circulated to CFEC members in January 2004.

  Content Type(s): Press, Market notices Source(s): Canadian Foreign Exchange Committee

• State-Dependent or Time-Dependent Pricing: Does It Matter for Recent U.S. Inflation?

  Staff Working Paper 2005-4 Peter J. Klenow, Oleksiy Kryvtsov

  Inflation equals the product of two terms: an extensive margin (the fraction of items with price changes) and an intensive margin (the average size of those changes).

  Content Type(s): Staff research, Staff working papers Topic(s): Inflation and prices JEL Code(s): E, E3, E31, E32

• Pre-Bid Run-Ups Ahead of Canadian Takeovers: How Big Is the Problem?

  Staff Working Paper 2005-3 Michael R. King, Maksym Padalko

  The authors study the price - volume dynamics ahead of the first public announcement of a takeover for 420 Canadian firms from 1985 to 2002.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial markets JEL Code(s): G, G1, G14, G18, G3, G34

• The Stochastic Discount Factor: Extending the Volatility Bound and a New Approach to Portfolio Selection with Higher-Order Moments

  Staff Working Paper 2005-2 Fousseni Chabi-Yo, René Garcia, Eric Renault

  The authors extend the well-known Hansen and Jagannathan (HJ) volatility bound. HJ characterize the lower bound on the volatility of any admissible stochastic discount factor (SDF) that prices correctly a set of primitive asset returns.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial markets, Market structure and pricing JEL Code(s): C, C6, C61, G, G1, G11, G12
• 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

  Bank of Canada releases Monetary Policy Report Update

  Media Relations Ottawa, Ontario

  The Bank of Canada today released its Update to the October Monetary Policy Report. The Update discusses current economic and financial trends in the context of Canada's inflation-control strategy.

  Content Type(s): Press, Press releases
• January 27, 2005

  Release of the Monetary Policy Report Update

  Opening statement David Dodge

  The outlook for the Canadian economy continues to be shaped by global developments, including the realignment of world currencies. The near-term outlook for the global economy is a touch weaker than projected in the October Report, but more solidly based because of somewhat lower oil prices and greater confidence in the momentum of the U.S. economy.

  Content Type(s): Press, Speeches and appearances, Opening statements
• 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