July 12, 2005 Bank of Canada keeps target for the overnight rate at 2 1/2 per cent Media Relations Ottawa, Ontario The Bank of Canada today announced that it is maintaining its target for the overnight rate at 2 1/2 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 2 3/4 per cent. Content Type(s): Press, Press releases
July 4, 2005 Business Outlook Survey - Summer 2005 Businesses remain optimistic about the economic outlook. Indeed, the results of this survey are broadly similar to those of the spring 2005 survey. Content Type(s): Publications, Business Outlook Survey
The Effectiveness of Official Foreign Exchange Intervention in a Small Open Economy: The Case of the Canadian Dollar Staff Working Paper 2005-21 Rasmus Fatum, Michael R. King The Bank of Canada is one of very few central banks that has made records of the intraday timing of its intervention operations available to researchers. Content Type(s): Staff research, Staff working papers Topic(s): Exchange rates, Financial markets JEL Code(s): E, E5, E58, F, F3, F31, G, G1, G14, G15
La fonction de production et les données canadiennes Staff Working Paper 2005-20 Patrick Perrier This study has two aspects. First, the author examines the theoretical properties of the constant elasticity of substitution (CES) production function and the implications of this formulation for the properties of a structural macroeconomic model. Content Type(s): Staff research, Staff working papers Topic(s): Economic models JEL Code(s): D, D2, D24, E, E2, E23, O, O4, O40
Bank Failures and Bank Fundamentals: A Comparative Analysis of Latin America and East Asia during the Nineties using Bank-Level Data Staff Working Paper 2005-19 Marco Arena The author develops the first comparative empirical study of bank failures during the nineties between East Asia and Latin America using bank-level data, in order to address the following two questions: (i) To what extent did individual bank conditions explain bank failures? (ii) Did mainly the weakest banks, in terms of their fundamentals, fail in the crisis countries? Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions JEL Code(s): G, G2, N, N2
June 28, 2005 Governor Dodge Discusses Policies to Help Resolve Global Imbalances Media Relations London, United Kingdom Bank of Canada Governor David Dodge today spoke about the policies that governments around the world need to adopt in order to bring about an orderly resolution to global economic imbalances. Content Type(s): Press, Press releases
June 28, 2005 The International Monetary Order and the Canadian Economy Remarks David Dodge Canada-U.K. Chamber of Commerce London, United Kingdom As business people with ties to Canada and the United Kingdom, you are keenly interested in the economic prospects of both countries. When we look closely at our economies, it is striking how much they have in common in terms of policies and outlook. Content Type(s): Press, Speeches and appearances, Remarks
June 25, 2005 Changes in the Indicator Properties of Narrow Monetary Aggregates Bank of Canada Review - Summer 2005 Tracy Chan, Ramdane Djoudad, Jackson Loi Although many countries have abandoned monetary targeting in recent decades, monetary aggregates are still useful indicators of future economic activity. Past research has shown that, compared with other monetary aggregates and expressed in real terms, net M1 and gross M1 have traditionally provided superior leading information for output growth. Content Type(s): Publications, Bank of Canada Review articles Topic(s): Monetary aggregates, Monetary and financial indicators
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
June 23, 2005 A Brief Survey of Risk-Appetite Indexes Financial System Review - June 2005 Mark Illing, Meyer Aaron Content Type(s): Publications, Financial System Review articles