April 24, 2002 Bank of Canada releases its April Monetary Policy Report Media Relations Ottawa, Ontario Canada's economic outlook has improved significantly since the November Monetary Policy Report. Indeed, information on the fourth quarter of last year and the first quarter of 2002 indicates that the recovery in the Canadian economy began sooner and has been considerably stronger than anticipated. Content Type(s): Press, Press releases
January 28, 2002 Bank of Canada Governor reviews key developments of last year Media Relations Winnipeg, Manitoba The Governor highlighted the global slowdown as the major economic challenge of the past year. But he said that there were also key changes within the Bank of Canada related to the implementation of monetary policy. In particular, he spoke of the success of the Bank's new system of eight fixed dates per year for announcing interest rate decisions. He also set out in detail the process that leads to those decisions. Content Type(s): Press, Press releases
November 27, 2001 Bank of Canada lowers key policy interest rate by 1/2 percentage point to 2 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-half of one percentage point to 2 1/4 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 2 1/2 per cent. Content Type(s): Press, Press releases
September 17, 2001 Bank of Canada lowers key policy interest rate by 1/2 percentage point to 3 1/2 per cent Media Relations Ottawa, Ontario The Bank of Canada today announced that it is lowering its target for the overnight rate by one-half of one percentage point to 3 1/2 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 3 3/4 per cent. Content Type(s): Press, Press releases
August 28, 2001 Bank of Canada lowers key policy interest rate by 1/4 percentage point to 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 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. Content Type(s): Press, Press releases
The Bank of Canada's New Quarterly Projection Model, Part 1. The Steady-State Model: SSQPM Technical Report No. 72 Richard Black, Douglas Laxton, David Rose, Robert Tetlow This report is the first documenting the Bank of Canada's new model of the Canadian economy, the Quarterly Projection Model (QPM). QPM is used at the Bank of Canada for both economic projections and policy analysis. Here the authors focus on the model's long-run properties, describing SSQPM, a model of the steady state of QPM […] Content Type(s): Staff research, Technical reports Topic(s): Economic models JEL Code(s): C, C5, C51, E, E1, E13
April 17, 2001 Bank of Canada lowers Bank Rate by 1/4 per cent Media Relations Ottawa, Ontario The Bank of Canada today announced that it is lowering the Bank Rate by one-quarter of one percentage point to 5 per cent. The operating band for the overnight rate* is correspondingly lowered, and the Bank's target for the overnight rate is reduced to 4 3/4 per cent. Content Type(s): Press, Press releases
March 20, 2001 Governor highlights Bank of Canada's contribution to domestic and global financial stability Media Relations Montréal, Quebec As an open economy, Canada has a strong interest in promoting a sound and robust international economic environment, Governor David Dodge said today, in a speech to the Montreal Society of Financial Analysts. He stressed that sound macroeconomic policies and robust and efficient financial systems are of paramount importance in an increasingly interconnected world. Content Type(s): Press, Press releases
Monetary Policy, Uncertainty and the Presumption of Linearity Technical Report No. 63 Douglas Laxton, David Rose, Robert Tetlow This report shows that extreme conditions and volatility in markets are much more likely to result from systematic policy errors in gauging and responding to inflationary pressures in an economy than from unfortunate random shocks. We describe a simple model that incorporates the key features of the policy control process. We use two versions of […] Content Type(s): Staff research, Technical reports Topic(s): Economic models, Inflation and prices, Monetary policy and uncertainty JEL Code(s): E, E5, E52
January 17, 2001 Redesigned $10 Bank Note Launched - New Note Series to Feature Canada's Culture, History and Achievements Media Relations Ottawa, Ontario The Bank of Canada launched the first in a new series of bank notes today. The themes of the notes in the new series, entitled Canadian Journey, reflect Canadians' views of their culture, history, and achievements, said Gordon Thiessen, Governor of the Bank of Canada, as he unveiled the $10 note at the Bank. Content Type(s): Press, Press releases