January 23, 2002
News
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January 23, 2002
Release of the Monetary Policy Report Update
(Bilingual Version) Economic developments in Canada since the November Report, and the profile for growth outlined in the Update, suggest that the amount of slack in the economy through 2002 will likely be somewhat greater than assumed in November. -
January 15, 2002
Bank of Canada lowers key policy interest rate by 1/4 percentage point to 2 per cent
The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of one percentage point to 2 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 2 1/4 per cent. -
January 5, 2002
Inflation Targeting in Canada: Experience and Lessons
In the 1970s and 1980s we found - in common with many other countries - that high and variable rates of inflation created a lot of economic damage. And it took a long time and a lot of work with various monetary policy frameworks before we got back on track. -
November 29, 2001
Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce
The Bank has a commitment to contribute to the economic well-being of Canadians. This means that we must conduct monetary policy so that it fosters sustained solid economic growth. -
November 27, 2001
Bank of Canada lowers key policy interest rate by 1/2 percentage point to 2 1/4 per cent
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. -
November 7, 2001
Bank of Canada releases semi-annual Monetary Policy Report
The Bank of Canada today released its semi-annual Monetary Policy Report in which it discusses economic and financial trends in the context of Canada's inflation-control strategy.
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November 7, 2001
Release of the Monetary Policy Report
Since our May 2001 Report, a further weakening of the world economy and the terrorist acts in the United States have forced a reappraisal of global economic prospects. By midsummer, evidence began to accumulate that the economic slowdown, globally and in Canada, would bedeeper and more protracted than previously anticipated. Thus, in late August, the […] -
November 7, 2001
Opening Statement before the House of Commons Standing Committee on Finance
Right now, all national economies face difficulties - difficulties stemming from the further weakening of the world economy and from the terrorist acts in the United States. As businesses, governments, and individuals in Canada - and around the world - strive to come to terms with the implications of those acts, the main preoccupation is, naturally, with the near term. -
October 24, 2001
Bank of Canada Governor focuses on current and future economic challenges for Canada
As we all strive to come to terms with this tragedy and its implications, it is understandable that our immediate preoccupation is with near-term issues, he said. Nonetheless, it is "critically important that we maintain a sense of perspective - that we step back and look past current developments, focusing also on the longer-term trends in our economy and its potential."