December 19, 2001
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December 19, 2001
Debt Strategy Consultations 2002-03
December 2001 Overview The purpose of the consultations is to obtain market views on issues relating to the design and operation of government debt programs for fiscal year 2002-03 and beyond. Given the outlook contained in the 2001 Budget released 10 December 2001, the debt program is projected to continue to operate at current levels and no […] -
New Phillips Curve with Alternative Marginal Cost Measures for Canada, the United States, and the Euro Area
Recent research on the new Phillips curve (NPC) (e.g., Galí, Gertler, and López-Salido 2001a) gives marginal cost an important role in capturing pressures on inflation. In this paper we assess the case for using alternative measures of marginal cost to improve the empirical fit of the NPC. -
A Consistent Bootstrap Test for Conditional Density Functions with Time-Dependent Data
This paper describes a new test for evaluating conditional density functions that remains valid when the data are time-dependent and that is therefore applicable to forecasting problems. We show that the test statistic is asymptotically distributed standard normal under the null hypothesis, and diverges to infinity when the null hypothesis is false. -
November 29, 2001
Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce
The Bank has a commitment to contribute to the economic well-being of Canadians. This means that we must conduct monetary policy so that it fosters sustained solid economic growth. -
November 27, 2001
Bank of Canada lowers key policy interest rate by 1/2 percentage point to 2 1/4 per cent
The Bank of Canada today announced that it is lowering its target for the overnight rate* by one-half of one percentage point to 2 1/4 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 2 1/2 per cent. -
November 7, 2001
Monetary Policy Report – November 2001
Two major issues dominate the analysis and policy discussion in this Monetary Policy Report: the nature and extent of the global economic slowdown that began late last year and the consequences of the terrorist attacks in the United States. -
November 7, 2001
Release of the Monetary Policy Report
Since our May 2001 Report, a further weakening of the world economy and the terrorist acts in the United States have forced a reappraisal of global economic prospects. By midsummer, evidence began to accumulate that the economic slowdown, globally and in Canada, would bedeeper and more protracted than previously anticipated. Thus, in late August, the […] -
November 7, 2001
Opening Statement before the House of Commons Standing Committee on Finance
Right now, all national economies face difficulties - difficulties stemming from the further weakening of the world economy and from the terrorist acts in the United States. As businesses, governments, and individuals in Canada - and around the world - strive to come to terms with the implications of those acts, the main preoccupation is, naturally, with the near term. -
November 1, 2001
Financial Market Structure and Dynamics
Proceedings of a conference held by the Bank of Canada, November 2001 (proceedings volume, available in electronic format only)