News

• May 14, 2002

  International Financial Architecture and the Resolution of Financial Crises

  Remarks David Dodge Canadian Club of Ottawa and the Canadian Institute of International Affairs Ottawa, Ontario

  The preamble to the Bank of Canada Act calls on us to promote the economic and financial welfare of Canada. In this context, we aim to foster good economic performance through monetary stability - that is to say, through low, stable, and predictable inflation. But no market economy can function properly unless it is also supported by an efficient and stable financial system.

  Content Type(s): Press, Speeches and appearances, Remarks
• May 14, 2002

  Bank of Canada Governor Reviews Progress in Strengthening International Financial Architecture and Resolving Financial Crises

  Media Relations Ottawa, Ontario

  Mr. Dodge stressed that in an interconnected world, Canada's open economy is very much affected by world events - hence, our strong interest in a healthy international financial environment.

  Content Type(s): Press, Press releases
• May 9, 2002

  Canadian Consul General's residence

  Remarks David Dodge Luncheon at the Canadian Consul General's residence Chicago, Illinois

  In Canada, the economic weakness that we experienced was really concentrated in the third quarter of last year, particularly in September. The terrorist attacks in September created a great deal of uncertainty, and so the Bank of Canada, like the U.S. Federal Reserve, provided an extraordinary amount of stimulus by aggressively lowering interest rates.

  Content Type(s): Press, Speeches and appearances, Remarks
• April 30, 2002

  Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce

  Opening statement David Dodge Standing Senate Committee on Banking, Trade and Commerce

  To counter that uncertainty and bolster consumer and business confidence, the Bank of Canada moved aggressively to provide monetary stimulus. Between last September and January 2002, we lowered interest rates by 200 basis points, bringing the total reduction since January 2001 to 375 basis points.

  Content Type(s): Press, Speeches and appearances, Opening statements
• April 26, 2002

  The Interaction Between Monetary and Fiscal Policies

  Lecture David Dodge School of Policy Studies Queen's University Kingston, Ontario

  Donald Gow had a great interest in public administration and in budgetary reform in the federal government.1 He was one in a long line of Queen's professors who have focused on various budgetary matters at the federal level.

  Content Type(s): Press, Speeches and appearances, Lectures
• 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
• April 24, 2002

  Opening Statement before the House of Commons Standing Committee on Finance

  Opening statement David Dodge

  To counter that uncertainty and bolster consumer and business confidence, the Bank of Canada moved aggressively to provide monetary stimulus. Between last September and January 2002, we lowered interest rates by 200 basis points, bringing the total reduction since January 2001 to 375 basis points.

  Content Type(s): Press, Speeches and appearances, Opening statements
• April 24, 2002

  Release of the Monetary Policy Report

  Opening statement David Dodge

  The level of production in the Canadian economy should return to full capacity in the second half of 2003. We also said that inflation should be at the Bank's 2 per cent target by about the end of next year.

  Content Type(s): Press, Speeches and appearances, Opening statements
• April 16, 2002

  Bank of Canada raises overnight rate target by 1/4 percentage point to 2 1/4 per cent

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 2 1/4 per cent. The operating band for the overnight rate is correspondingly increased, and the Bank Rate is now 2 1/2 per cent.

  Content Type(s): Press, Press releases
• March 27, 2002

  The Bank of Canada Launches a New $5 Bank Note

  Media Relations Montréal, Quebec

  David Dodge, Governor of the Bank of Canada and Paul Martin, Minister of Finance were joined at the unveiling by Jean Béliveau, former NHL hockey player for the Montréal Canadiens, Kim St. Pierre, member of the gold-medal-winning Canadian Olympic women's hockey team in Salt Lake City, and Myriam Bédard, two-time Olympic gold medallist in the biathlon.

  Content Type(s): Press, Press releases