It is certainly nothing new to say that economies have become increasingly globalized. In his 1962 book, The Gutenberg Galaxy, Marshall McLuhan observed that the electronic mass media were collapsing time and space barriers. This enabled people to communicate on a global scale. He coined the term "global village" to describe this change.
Bank of Canada Governor David Dodge corrects a misstatement he made in responding to a question yesterday relating to what he heard at the G-20 meeting about U.S. growth and how it might affect Bank of Canada projections.
Since the April Monetary Policy Report, the Canadian economy has been hit by a number of unusual shocks: SARS, BSE, the Ontario electricity blackout, and the severe forest fires in British Columbia.
The Bank of Canada today released its 2004 schedule of eight dates for announcing decisions on its key policy interest rate, and confirmed the announcement dates for the remainder of this year.
The Bank of Canada today announced the appointment of Professor John Helliwell to the visiting-economist position of Special Adviser during 2003 and 2004.