December 10, 2007
Speeches
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December 6, 2007
Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce
In Canada, we were looking for weaker economic growth in the fourth quarter of this year and the first half of 2008, but some strengthening thereafter. As you can see from Table 2, we were expecting continued strong final domestic demand throughout the projection period, but considerably weaker net exports. -
December 5, 2007
Opening Statement before the House of Commons Standing Committee on Finance
Over time, it has become clear that the best contribution monetary policy can make to the promotion of the economic and financial welfare of Canada is to keep inflation low, stable, and predictable. -
November 20, 2007
Managing Risks to Financial System Stability
The recent dislocations in credit markets have brought these issues into sharp focus. Among other things, the market turbulence has highlighted the critical role that confidence and liquidity play in financial markets. -
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November 6, 2007
North America in Today's Global Economic Setting
In recent months, much has been said, and written, about developments in financial markets. The turbulence in global credit markets, which had its roots in developments in the market for subprime mortgages here in the United States, has been a focal point of attention for market participants and policy-makers around the world. -
October 21, 2007
Credit Market Turbulence and Policy Challenges Ahead
Given the Institute's membership and its focus on financial stability, I feel safe in saying that all of us here today watched this summer's turbulence in credit markets with interest, to put it mildly. What began in the spring as a repricing of credit risk turned into dislocations that have yet to fully run their course. -
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October 18, 2007
Release of the Monetary Policy Report
Since the July Monetary Policy Report Update, and against a backdrop of robust global economic expansion and strong commodity prices, the Canadian economy has been stronger than projected. It is now operating further above its production potential than had been previously expected. -
October 3, 2007
Liquidity, Liquidity, Liquidity
Sound financial investment is important to individuals, to firms, and to society as a whole. By definition, investment is forward looking, and thus our future financial well-being is shaped by the soundness of the investment decisions we make today.