June 21, 2007
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June 8, 2006
Floating Dollar, Anchored Inflation: The Role of the Exchange Rate in Canada's Monetary Policy Framework
The two key components of the Bank's monetary policy framework are an "anchor," the inflation target, and a "float," the flexible exchange rate. Living by the ocean, you know better than I that a good mooring is one that keeps a boat in place, yet allows some give and take for the wind and the tide.
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March 9, 2006
Renewing the IMF: Some Lessons from Modern Central Banking
As economies have become more interconnected through trade and financial flows in a truly global marketplace, economic developments in one location can quickly have repercussions on the other side of the globe. In 1997, what began as a currency devaluation in Thailand became a crisis with repercussions not just in Asia, but in countries as far away as Russia, Brazil, and Canada.
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