September 14, 2001 Bank of Canada update on financial markets to 14 September Media Relations Canada's payments, clearing and settlement systems have functioned well this week. The Bank of Canada continues to provide liquidity as needed. Trading activity in Canadian bond and money markets has increased since Wednesday and bid-ask spreads have narrowed, while activity in the foreign exchange markets has been very subdued. Content Type(s): Press, Press releases
September 14, 2001 Swap Facility with U.S. Federal Reserve Media Relations The Bank of Canada and the U.S. Federal Reserve have agreed to a temporary augmentation of their existing swap facility in order to facilitate the functioning of financial markets and provide liquidity in U.S. dollars. Content Type(s): Press, Press releases
September 12, 2001 Bank of Canada update on financial markets Media Relations Canada's payments, clearing and settlement systems are functioning well, with the Bank of Canada providing ample liquidity. Equity and futures markets were closed today, but Canadian bond, money and foreign exchange markets were open, with very light trading volumes. Content Type(s): Press, Press releases
September 12, 2001 Government of Canada treasury bill and Real Return Bond auctions rescheduled In light of the tragic circumstances that occurred in the U.S. yesterday that continue to disrupt trading activity in North American markets, the Government of Canada in conjunction with the Bank of Canada is making the following Debt Management announcements: Content Type(s): Press, Market notices
September 11, 2001 Bank of Canada statement Media Relations In light of the tragic events in the United States, the Bank of Canada would like to assure the public that it will provide the liquidity necessary to support the stability of the Canadian financial system and the continued functioning of financial markets. Content Type(s): Press, Press releases
September 11, 2001 Government of Canada treasury bill auction and Cash Management Buyback scheduled to be held today are postponed and cancelled respectively In light of extraordinary circumstances that have occurred in the U.S. today that have significantly disrupted trading activity, the Government of Canada in conjunction with the Bank of Canada are making the following Debt Management announcements: Content Type(s): Press, Market notices
L'effet de la richesse sur la consommation aux États-Unis Staff Working Paper 2001-14 Yanick Desnoyers The substantial growth in wealth over the course of the second half of the 1990s generated the equivalent of a certain level of savings, while simultaneously causing household savings rates to fall significantly. The author seeks to explain this decline in savings, observed since 1995, using the methodology developed by King, Plosser, Stock, and Watson (1991). Content Type(s): Staff research, Staff working papers Topic(s): Domestic demand and components JEL Code(s): E, E2, E21
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
August 17, 2001 The Changing Effects of Energy-Price Shocks on Economic Activity and Inflation Bank of Canada Review - Summer 2001 Gerald Stuber In this article the author examines the effects that major changes in energy prices in recent years have had on inflation and on the pace of economic expansion. These are then compared with the effects of the oil-price shocks that occurred in the 1970s and early 1980s. Changes in the intensity of energy use are examined, as well as developments in Canada's merchandise trade surplus in energy commodities and products. The author also considers the effects that a monetary policy anchored to low and stable inflation could have on price-setting behaviour and thus on the pass-through of higher energy costs to core inflation in Canada and in other industrial countries. Content Type(s): Publications, Bank of Canada Review articles Topic(s): Business fluctuations and cycles
August 17, 2001 Bank of Canada Review - Summer 2001 Cover page Trade Silver The objects featured on the cover range in size from 1 to 2.5 inches in width. They form part of the National Currency Collection, Bank of Canada. Photography by James Zagon. Content Type(s): Publications, Bank of Canada Review