October 23, 2002 Monetary Policy Report – October 2002 Over the past year, Canada’s economy has outperformed the economies of virtually all the other major industrial countries. Content Type(s): Publications, Monetary Policy Report
April 27, 2006 Monetary Policy Report – April 2006 The Canadian economy continues to grow at a solid pace, consistent with the Bank’s outlook in the January Monetary Policy Report Update. Content Type(s): Publications, Monetary Policy Report
January 22, 2009 Monetary Policy Report Update – January 2009 The outlook for the global economy has deteriorated significantly since the October Monetary Policy Report. The financial crisis intensified last autumn and spilled over into an already weak global economy, which, in turn, put further strains on the financial system. Erratum: In Table 1 Interest Rates, the column "Estimated variable mortgage rate" should read 5.65 per cent for 4 December 2007 not 5.25. Content Type(s): Publications, Monetary Policy Report
November 24, 2004 Asset Prices and Monetary Policy: A Canadian Perspective on the Issues Bank of Canada Review - Autumn 2004 Jack Selody, Carolyn A. Wilkins The issue addressed in this article is the extent to which monetary policy in Canada should respond to asset-price bubbles. The article concludes that maintaining low and stable consumer price inflation is the best contribution that monetary policy can make to promoting economic and financial stability, even when the economy experiences asset-price bubbles. In extreme circumstances—when an asset-price bubble is well identified and likely to have significant costs to the economy when it bursts—monetary policy might better maintain low and stable consumer price inflation by leaning against a particular bubble even though it may mean that inflation deviates temporarily from its target. Such a strategy might reduce the risk that a crash in asset prices could lead to a recession and to inflation markedly below target in the longer run. The circumstances where this strategy is possible will be rare because economists are far from being able to determine consistently and reliably when leaning against a particular bubble is likely to do more harm than good. Housing-price bubbles should be a greater concern for Canadian monetary policy than equity-price bubbles, since rising housing prices are more likely to reflect excessively easy domestic credit conditions than are equity prices, which are largely determined in global markets. Content Type(s): Publications, Bank of Canada Review articles Topic(s): Inflation targets, Monetary and financial indicators, Monetary policy framework
November 24, 2004 Bank of Canada Review - Autumn 2004 Cover page Bus Transportation Tokens and Tickets The pieces illustrated on the cover range in size from 12 mm to 38 mm in diameter or width. They form part of the National Currency Collection, Bank of Canada. Photography by Gord Carter, Ottawa Content Type(s): Publications, Bank of Canada Review
December 25, 2009 Senior Loan Officer Survey - Fourth-Quarter 2009 The survey results point to the stabilization of overall lending conditions during the fourth quarter of 2009, following a number of consecutive quarters of credit tightening for business borrowers (Chart 1). Content Type(s): Publications, Senior Loan Officer Survey
June 25, 2005 Bank of Canada Review - Summer 2005 Cover page African Marriage Money The metal marriage currencies pictured on the cover are part of the National Currency Collection, Bank of Canada. Photography by Gord Carter, Ottawa. Content Type(s): Publications, Bank of Canada Review
January 16, 2006 Business Outlook Survey - Winter 2005-06 The results of this survey are broadly similar to those of the autumn survey, with firms in aggregate remaining optimistic about the economic outlook. Content Type(s): Publications, Business Outlook Survey
October 8, 2004 Business Outlook Survey - Autumn 2004 Businesses remain essentially as optimistic about the economic outlook as they were in the summer survey. Although they have marked down their growth forecast for the U.S. economy, businesses expect stronger domestic demand.Supplemental questions on the appreciation of the Canadian dollar - October 2004 Content Type(s): Publications, Business Outlook Survey
July 12, 2004 Business Outlook Survey - Summer 2004 Businesses are somewhat more optimistic about the outlook than they were in the spring, reflecting increased confidence about the robustness of the global economic recovery. Content Type(s): Publications, Business Outlook Survey