September 14, 2001
Posts
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September 12, 2001
Bank of Canada update on financial markets
Canada's payments, clearing and settlement systems are functioning well, with the Bank of Canada providing ample liquidity. Equity and futures markets were closed today, but Canadian bond, money and foreign exchange markets were open, with very light trading volumes. -
September 12, 2001
Government of Canada treasury bill and Real Return Bond auctions rescheduled
In light of the tragic circumstances that occurred in the U.S. yesterday that continue to disrupt trading activity in North American markets, the Government of Canada in conjunction with the Bank of Canada is making the following Debt Management announcements: -
September 11, 2001
Bank of Canada statement
In light of the tragic events in the United States, the Bank of Canada would like to assure the public that it will provide the liquidity necessary to support the stability of the Canadian financial system and the continued functioning of financial markets. -
September 11, 2001
Government of Canada treasury bill auction and Cash Management Buyback scheduled to be held today are postponed and cancelled respectively
In light of extraordinary circumstances that have occurred in the U.S. today that have significantly disrupted trading activity, the Government of Canada in conjunction with the Bank of Canada are making the following Debt Management announcements: -
L'effet de la richesse sur la consommation aux États-Unis
The substantial growth in wealth over the course of the second half of the 1990s generated the equivalent of a certain level of savings, while simultaneously causing household savings rates to fall significantly. The author seeks to explain this decline in savings, observed since 1995, using the methodology developed by King, Plosser, Stock, and Watson (1991). -
August 28, 2001
Bank of Canada lowers key policy interest rate by 1/4 percentage point to 4 per cent
The Bank of Canada today announced that it is lowering its target for the overnight rate* by one-quarter of one percentage point to 4 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 4 1/4 per cent. With today's action, the total reduction in interest rates by the Bank this year amounts to 1 3/4 percentage points. -
August 17, 2001
The Changing Effects of Energy-Price Shocks on Economic Activity and Inflation
In this article the author examines the effects that major changes in energy prices in recent years have had on inflation and on the pace of economic expansion. These are then compared with the effects of the oil-price shocks that occurred in the 1970s and early 1980s. Changes in the intensity of energy use are examined, as well as developments in Canada's merchandise trade surplus in energy commodities and products. The author also considers the effects that a monetary policy anchored to low and stable inflation could have on price-setting behaviour and thus on the pass-through of higher energy costs to core inflation in Canada and in other industrial countries. -
August 17, 2001
Bank of Canada Review - Summer 2001
Cover page
Trade Silver
The objects featured on the cover range in size from 1 to 2.5 inches in width. They form part of the National Currency Collection, Bank of Canada.
Photography by James Zagon.
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August 16, 2001
Innovation and Competition in Canadian Equity Markets
Innovations in communications and information technology and the related globalization of financial markets have created the potential for important changes to the structure of Canadian equity markets. Established marketplaces can now compete more effectively on an inter-regional and international basis. At the same time, reduced costs have lowered the barriers to entry faced by new competitors known as alternative trading systems (ATSs). In response to this heightened competition, established Canadian stock exchanges have taken measures to improve market quality. While regulators see innovation as positive for the development of Canadian markets, there is some concern that market liquidity may be fragmented in the short run. The Canadian Securities Administrators have proposed a framework that attempts to address this issue and that would allow ATSs to compete with traditional exchanges for the first time. The authors provide an overview of the Canadian equity market and its structure, focusing on these recent developments.