The Bank of Canada today announced that Professor David Andolfatto of Simon Fraser University is the recipient of the Bank's Research Fellowship for 2009.
As we have consistently emphasized, stabilization of the global financial system is a precondition for economic recovery, both globally and in Canada. To that end, policy-makers around the globe have acted aggressively and creatively by initiating a series of unprecedented actions aimed at stabilizing the global financial system.
The Board of Directors of the Bank of Canada today announced the appointment of Timothy D. Lane as Deputy Governor and member of the Governing Council of the Bank effective 18 February.
Let me state at the outset that the speed and synchronized nature of the recent global downturn has resulted in a heightened degree of uncertainty, which is evident in the diverse views on the outlook.
In the Update, the Bank noted that the outlook for the global economy has deteriorated since the October Monetary Policy Report, with the intensifying financial crisis spilling over into real economic activity.
The outlook for the global economy has deteriorated since the October Monetary Policy Report, with the intensifying financial crisis spilling over into real economic activity.