June 27, 2001 Bank of Canada awards contract for outsourcing of retail debt systems and operations support Media Relations The Bank of Canada has signed a contract with EDS Canada Inc. for the provision of systems and operations support services for the federal government's retail debt program to ensure more flexible and cost-effective service. Content Type(s): Press, Press releases
May 29, 2001 Bank of Canada lowers key policy rate by 1/4 per cent Media Relations Ottawa, Ontario 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 1/2 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is reduced by one-quarter of one percentage point to 4 3/4 per cent. Content Type(s): Press, Press releases
Tests of Market Efficiency in the One-Week When-Issued Market for Government of Canada Treasury Bills Technical Report No. 65 D. Graham Pugh This report presents different tests of market efficiency in the when- issued market for Government of Canada treasury bills and examines the effectiveness, in this market, of Bank operations over the 1986 to mid- 1992 period. The when-issued market, which is a combination of a forward and futures market, enables market participants to buy or […] Content Type(s): Staff research, Technical reports Topic(s): Financial markets JEL Code(s): G, G1, G14
March 6, 2001 Bank of Canada lowers Bank Rate to 5 1/4 per cent Media Relations Ottawa, Ontario The Bank of Canada today announced that it is lowering the Bank Rate by one-half of one percentage point to 5 1/4 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank's target for the overnight rate is reduced to 5 per cent. Content Type(s): Press, Press releases
January 15, 2001 Janet Cosier Appointed Chair of Canadian Payments Association Media Relations Ottawa, Ontario The Bank of Canada announced today that Janet Cosier, Adviser to the Governor, has been appointed Chair of the Board of Directors of the Canadian Payments Association. Content Type(s): Press, Press releases
Some Implications of International Financial Integration for Canadian Public Policy Technical Report No. 57 William White The domestic capital markets of the major industrial countries have become more closely integrated over the last two decades, a by-product of regulatory and technological change. This paper considers some of the implications of those changes for Canadian public policy. While no profound implications are found for Canadian macroeconomic policies, which probably reflects a long […] Content Type(s): Staff research, Technical reports Topic(s): International topics JEL Code(s): E, E5, E50, F, F3, F33, H, H3, H30
Some Evidence on Hysteresis and the Costs of Disinflation in Canada Technical Report No. 55 Barry Cozier, Gordon Wilkinson This paper addresses the following questions: How large are the output costs of disinflation in Canada? Are these costs temporary, as predicted by natural-rate models, or are they permanent, as predicted by hysteresis models? Are the costs of disinflation higher at lower rates of inflation? Are they higher when the economy is at or below […] Content Type(s): Staff research, Technical reports Topic(s): Labour markets JEL Code(s): E, E2, E24, E3, E31
The Goal of Price Stability: A Review of the Issues Technical Report No. 54 Jack Selody The basic responsibility of a central bank is to preserve the value of money—that is, to maintain stability in the general level of prices. This report pulls together the main arguments for and against price stability as the appropriate goal for monetary policy. The available evidence suggests that the benefits of price stability are many […] Content Type(s): Staff research, Technical reports Topic(s): Inflation targets JEL Code(s): E, E3, E31, E5, E50
Asset-Price Misalignments and Monetary Policy: How Flexible Should Inflation-Targeting Regimes Be? Staff Discussion Paper 2007-6 Jack Selody, Carolyn A. Wilkins The authors analyze the extent to which inflation-targeting frameworks should incorporate flexibility in order to respond to asset-price misalignments and other atypical events. They examine the costs and benefits of adding flexibility to the Bank's current inflation-targeting framework, and conclude that maintaining low and stable consumer price inflation is the best contribution that monetary policy […] Content Type(s): Staff research, Staff discussion papers Topic(s): Inflation targets, Monetary policy framework JEL Code(s): E, E5, E6
March 10, 2004 Adjusting to Global Economic Change Remarks David Dodge Brazil-Canada Chamber of Commerce São Paulo, Brazil Today, I want to focus my remarks on Canada's adjustment to changes in the global economy. I will talk about our efforts to adjust to longer-term economic forces and about the challenges that these forces present. Some of our experiences may be relevant to other economies that are making similar adjustments in the face of similar economic circumstances. Content Type(s): Press, Speeches and appearances, Remarks