Posts - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T18:00:28+00:00Opening Statement before the House of Commons Standing Committee on Finance
https://www.bankofcanada.ca/1998/05/opening-statement-28-05-98/
Mr. Chairman, my colleagues and I are pleased to appear before your committee on a regular basis following the release of the Bank of Canada's Monetary Policy Report. It gives us a chance to discuss with you a range of economic and monetary issues. More generally, our semi-annual Report and sessions such as this one […]1998-05-28T09:15:36+00:00Opening Statement before the House of Commons Standing Committee on Finance1998-05-28Gordon ThiessenGlobalized Financial Markets and Monetary Policy
https://www.bankofcanada.ca/1998/05/globalized-financial-markets-and-monetary-policy/
Globalization - that is, the growing integration and interdependence of national economies - is changing dramatically the economic landscape. Countries are trading more goods and services, an increasing number of firms now operate across national borders, and savers and borrowers have greater access than ever before to global financial markets.1998-05-27T07:46:32+00:00Globalized Financial Markets and Monetary Policy1998-05-27Gordon ThiessenBank of Canada Governor speaks at La Conférence de Montréal
https://www.bankofcanada.ca/1998/05/governor-speaks-conference-montreal/
In a speech delivered today to delegates to La Conférence de Montréal, Bank of Canada Governor Gordon Thiessen examined the impact of financial market globalization on the world economy.1998-05-27T00:00:11+00:00enBank of Canada Governor speaks at La Conférence de Montréal1998-05-27Recent developments in the monetary aggregates and their implications
https://www.bankofcanada.ca/wp-content/uploads/2010/06/r982a.pdf
This article examines the developments in the monetary aggregates over the course of 1997 and their implications for future economic activity.
The narrow aggregate, M1, grew rapidly in the first half of 1997 but slowed somewhat during the second half of the year. Much of the strong growth in this aggregate over the last several years has been associated with a higher demand for transactions balances as interest rates declined and economic activity revived. There were some special factors at play, however, that are discussed in the article. The Bank expects some slowing in M1 growth through 1998 and into 1999. This would be consistent with a trend of inflation within the inflation-control target range of 1 to 3 per cent over the next couple of years.
Growth in the broad aggregate, M2+, continued to be distorted by the shift of savings out of fixed-term deposits into mutual funds. A broader aggregate that includes M2+, CSBs, and all mutual funds and thus provides a better estimate of broad money growth, grew at a moderate pace during 1997. The recent behaviour of the broad monetary aggregates continues to suggest that inflation will remain low in coming years.1998-05-14T11:06:05+00:00enRecent developments in the monetary aggregates and their implications1998-05-14Bank of Canada Review - Spring 1998
https://www.bankofcanada.ca/1998/05/spring-1998/
Cover page
Papal Testone of Innocent XI
Called a testone, this silver coin is about the size of a Canadian two-dollar piece and forms part of the National Currency Collection at the Bank of Canada.
Photography by James Zagon.1998-05-14T10:41:54+00:00enBank of Canada Review - Spring 19981998-05-14Canada-U.S. long-term interest differentials in the 1990s
https://www.bankofcanada.ca/wp-content/uploads/2010/06/r982b.pdf
Long-term Canada-U.S. interest spreads have changed remarkably during the 1990s. The unusually wide spreads of the first half of the decade have given way to an unprecedented run of negative yield differentials.
In this article, the author examines the conceptual aspects of yields on international assets and their application to the Canada-U.S. situation.
Prior to 1995, investors were unsure that, over the long run, inflation would meet the targets set by the government and the Bank. Policy credibility was undermined by large budget deficits and political uncertainty. In the second half of the decade, confidence was re-established as the fiscal positions of governments improved, long-run price stability became established, and political concerns about Quebec lessened.
As long as these fundamentals hold, long-term rates should remain relatively low, even when short-term rates rise.1998-05-13T11:08:29+00:00enCanada-U.S. long-term interest differentials in the 1990s1998-05-13Monetary Policy Report – May 1998
https://www.bankofcanada.ca/1998/05/13-may-1998/
Canada’s inflation-control targets establish a specific medium-term objective for monetary policy.1998-05-13T10:57:55+00:00enMonetary Policy Report – May 19981998-05-13Release of the Monetary Policy Report
https://www.bankofcanada.ca/1998/05/opening-statement-13-05-98/
This morning we released our seventh Monetary Policy Report. Since the release of our last Report in November, there have been an unusual number of international and domestic developments which have had important economic and financial consequences. Among the most important events have been the crisis in Asia, declines in commodities prices, and the persistent […]1998-05-13T08:54:30+00:00Release of the Monetary Policy Report1998-05-13Gordon ThiessenBank of Canada Governor comments on release of the Monetary Policy Report
https://www.bankofcanada.ca/1998/05/governor-comments-release-monetary-policy-report/
Bank of Canada Governor Gordon Thiessen today commented on the release of the semi-annual Monetary Policy Report, which discusses current economic trends and their implications for monetary policy.1998-05-13T00:00:53+00:00enBank of Canada Governor comments on release of the Monetary Policy Report1998-05-13Measurement biases in the Canadian CPI: An update
https://www.bankofcanada.ca/wp-content/uploads/2010/06/r982c.pdf
The consumer price index (CPI) is used to measure changes in the price level of consumer goods and services. As an indicator of changes in the cost of living, it is susceptible to various types of measurement biases.
This article provides estimates of the size of these biases in the Canadian CPI. It concludes that the rate of increase in the CPI probably overstates the rate of increase in the cost of living by about 0.5 percentage points per year.1998-05-12T11:10:36+00:00enMeasurement biases in the Canadian CPI: An update1998-05-12