October 27, 2005
Uncategorized
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October 26, 2005
Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce
When Paul and I appeared before this Committee last April, we said that the economy appeared to be operating slightly below its production capacity, and that we expected it to move back to full capacity in the second half of 2006. In our October Monetary Policy Report, which we published last Thursday, we said that economic growth in the first half of the year was somewhat stronger than we had previously expected. Indeed, the global and Canadian economies have continued to grow at a solid pace, and our economy now appears to be operating at full production capacity. -
October 25, 2005
RCMP management retreat
It's not surprising that the Bank of Canada is interested in promoting economic integrity. After all, the Bank of Canada Act mandates us, as far as possible within the scope of monetary policy action, to "promote the economic and financial welfare of Canada." -
October 25, 2005
Opening Statement before the House of Commons Standing Committee on Finance
Past and recent movements in energy prices and in the exchange rate for the Canadian dollar, along with competitive pressures from China and other newly industrialized economies, are giving rise to significant ongoing adjustments in the Canadian economy. Given these adjustments and the slow growth of productivity in recent years, the Bank has slightly reduced its estimate of potential output growth for 2005 and 2006. -
October 21, 2005
Changes Regarding Noon Foreign Exchange Rates Effective 7 November 2005
Beginning on 7 November 2005, the Bank of Canada will be implementing a number of changes directed towards achieving a more timely release of noon foreign exchange rates. These changes will be implemented on a six-month trial basis to allow the Bank to assess whether further refinements are required to ensure that these rates remain an accurate reflection of mid-day rates in wholesale markets. -
October 20, 2005
Release of the Monetary Policy Report
In the report, we said that the global and Canadian economies have continued to grow at a solid pace, and our economy now appears to be operating at full production capacity. Past and recent movements in energy prices and in the exchange rate for the Canadian dollar, along with competitive pressures from China and other newly industrialized economies, are giving rise to significant ongoing adjustments in the Canadian economy. -
October 20, 2005
Monetary Policy Report – October 2005
The global economy has continued to grow at a robust pace since the July Monetary Policy Report Update. -
October 18, 2005
Bank of Canada raises overnight rate target by 1/4 percentage point to 3 per cent
The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 3 per cent. -
October 7, 2005
Business Outlook Survey - Autumn 2005
Firms overall remain positive about the economic outlook. -
Has Exchange Rate Pass-Through Really Declined in Canada?
Several empirical studies suggest that exchange rate pass-through has declined in recent years in industrialized countries.