Uncategorized

• December 1, 2000

  Background Note on the Treasury Bill Program

  1. Introduction This year, the average outstanding stock of treasury bills has been about $85 billion, about half of where it was (almost $165 billion) five years ago. The turnover ratio (the trading volume to the outstanding stock of bills) has declined by even more, to less than half the rate of five years ago. As part […]
• November 29, 2000

  Government of Canada Pilot Cash Management Bond Buyback Program Launch: Operational Framework

  On behalf of the Minister of Finance, the Bank of Canada announced today that the government will be proceeding on a pilot basis with a bond buyback program for cash management purposes. The program is designed to reduce the peak levels of government cash balances needed to redeem large upcoming maturities of Government of Canada marketable bonds. Design of the operational framework has been based on consultations with market participants.

  Content Type(s): Press, Announcements
• November 28, 2000

  Bank of Canada to Offer Term SPRAs and May Purchase BAs over Year-end

  The Bank of Canada today announced its intention to temporarily add assets to its balance sheet to offset the anticipated $2 billion to $3 billion seasonal increase in the demand for bank notes. These operations have no monetary policy significance.

  Content Type(s): Press, Market notices
• November 9, 2000

  Monetary Policy Report – November 2000

  Over the last six months, most countries have continued to register strong economic growth.

  Content Type(s): Publications, Monetary Policy Report
• November 9, 2000

  Release of the Monetary Policy Report

  Opening statement Gordon Thiessen

  This morning we released our latest Monetary Policy Report. In the six months since the May Report, our economy has outperformed expectations, spurred by strong domestic and foreign demand for Canadian products. We now expect that growth will average 5 per cent in 2000 and 3 to 4 per cent in 2001. Despite this stronger-than-anticipated […]

  Content Type(s): Press, Speeches and appearances, Opening statements
• November 1, 2000

  Revisiting the Case for Flexible Exchange Rates

  Proceedings of a conference held by the Bank of Canada, November 2000 (proceedings volume, available in electronic format only)

  Content Type(s): Conferences and workshops
• October 30, 2000

  Bank of Canada releases dates for announcing Bank Rate actions

  Media Relations Ottawa, Ontario

  The Bank of Canada today made public the dates through the year 2001 on which it will announce any changes to the official interest rate it uses to implement monetary policy. Last month the Bank outlined its plan to adopt a new system of pre-set or "fixed" dates for announcing changes to the Bank Rate, […]

  Content Type(s): Press, Press releases
• October 17, 2000

  Can a Bank Change? The Evolution of Monetary Policy at the Bank of Canada 1935–2000

  Lecture Gordon Thiessen Faculty of Social Science, University of Western Ontario

  Over this period, there has been a fundamental transformation in the way monetary policy is conducted in Canada and in most other industrial countries. While globalization and technological change have played an important role in this area, as in so many others, they have not, to my mind, been the principal driving force behind this transformation. Far more important has been the interaction of experience and economic theory.

  Content Type(s): Press, Speeches and appearances, Lectures
• September 19, 2000

  Summary of Consultation Results

  On 19 September 2000, the Bank of Canada published details of its plan to adopt a new system of eight “fixed” or pre-specified dates each year for announcing any changes to the official interest rate that it uses to implement monetary policy. Before finalizing and implementing the specific calendar of fixed dates, including the day of the week and time of day for announcements, the Bank invited interested Canadians to provide their views on the new fixed-date system.
• September 19, 2000

  A New System of Fixed Dates for Announcing Changes to the Bank Rate

  In November 2000, the Bank of Canada introduced a new system of eight "fixed" or pre-specified dates each year for announcing any changes to the official interest rate it uses to implement monetary policy. This paper describes the basic features of the proposed approach, elaborates its key advantages and identifies issues for consultation.