Posts
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June 2, 1999
Canadian economic performance at the end of the twentieth century
As the curtain comes down on the twentieth century and we move on to the next millennium, it is difficult to resist the temptation to be both retrospective and prospective. -
May 27, 1999
Bank of Canada Announces Appointment of Senior Deputy Governor
The Board of Directors of the Bank of Canada announced today that, pursuant to Section 6 of the Bank of Canada Act, Malcolm Knight has been appointed Senior Deputy Governor of the Bank for a seven-year term, effective 5 July 1999. -
May 26, 1999
Opening Statement before the Standing Committee on Finance of the House of Commons
It is always a pleasure to appear before your Committee following the publication of our Monetary Policy Report. We released our ninth Report last Wednesday. The Bank of Canada began publishing these Reports on a semi-annual basis four years ago, as part of our effort to increase the transparency and accountability of the Bank's conduct of monetary policy. -
May 25, 1999
Bank of Canada Announces Appointment of Special Adviser
Professor Daniel Racette has been chosen to fill the visiting economist position of Special Adviser in the Bank of Canada for a one-year term beginning in August 1999. -
May 19, 1999
Monetary Policy Report – May 1999
Six months ago, at the time of the last Monetary Policy Report, the global economic and financial environment was volatile and highly uncertain because of the adverse situation in Asia and the fallout from the Russian debt moratorium. -
May 19, 1999
Release of the Monetary Policy Report
This morning we released our ninth Monetary Policy Report. The economic and financial situation is much improved since our previous Report in November. Financial markets have steadied in Southeast Asia, and prospects are good for a gradual recovery there. In Brazil, the authorities have taken major steps to address their difficulties. Overall, global financial markets […] -
May 19, 1999
Bank of Canada releases its semi-annual Monetary Policy Report
Bank of Canada Governor Gordon Thiessen today commented on the release of the Bank's ninth Monetary Policy Report. -
May 15, 1999
Recent developments in the monetary aggregates and their implications
In its conduct of monetary policy, the Bank of Canada carefully monitors the pace of monetary expansion for indications about the outlook for inflation and economic activity. In recent years, a number of factors have distorted the growth of the traditional broad and narrow aggregates. In this article, the authors discuss the uncertainty surrounding the classification of deposit instruments that has resulted from the elimination of reserve requirements and from other financial innovations. They introduce two new measures of transactions balances, M1+ and M1++ (described more fully in a technical note in this issue of the Review), that internalize some of the substitutions that have occurred. They attribute the deceleration in M1 growth in 1998 partly to the declining influence of special factors, partly to a lagged response to interest rate increases in 1997 and early 1998, and partly to some temporary tightening in credit conditions in the autumn of 1998. The broad monetary aggregate M2++, which includes all personal savings deposits, life insurance annuities, and mutual funds, grew at a steady pace in 1998, presaging growth of about 4 to 5 per cent in total dollar spending and inflation inside the target range. -
May 15, 1999
Bank of Canada Review - Spring 1999
Cover page
Merchant’s note, 1837
Approximately four by three inches in size, this bon is part of the National Currency Collection, Bank of Canada.
Photography by James Zagon.