October 7, 1997
Uncategorized
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October 1, 1997
Bank Rate Raised by ¼ Percentage Point
The Bank of Canada today raised the Bank Rate and its operating band for the overnight rate by 1/4 of one percentage point. -
September 16, 1997
The recent economic record in Canada and the challenges ahead for monetary policy
It has been a little over two years since my last public speech to an audience in the United States. During this time, a lot has happened in terms of economic developments in our two countries. One thing that continues to impress me is the remarkable performance of the U.S. economy, which has achieved six years of steady economic expansion, with high rates of job creation and low inflation. -
Measurement of the Output Gap: A Discussion of Recent Research at the Bank of Canada
In this paper, we discuss some methodologies for estimating potential output and the output gap that have recently been studied at the Bank of Canada. The assumptions and econometric techniques used by the different methodologies are discussed in turn, and applications to Canadian data are presented. -
June 26, 1997
Bank Rate Raised 1/4 of a Percentage Point
The Bank of Canada indicated today that it had raised the Bank Rate by 1/4 of one percentage point to 3 1/2 per cent. -
June 18, 1997
The Canadian economy: Challenges and prospects
Once a year, the Bank of Canada's Board of Directors meets outside Ottawa, alternating among the provinces. I am delighted that this year's out-of-town meeting has brought us to the beautiful and historic city of Quebec. I would like to take this opportunity to talk to you about recent developments in our economy. -
What Does Downward Nominal-Wage Rigidity Imply for Monetary Policy?
A recent paper has suggested there might be a trade-off between inflation and unemployment at low inflation rates and this has led some economists to recommend that Canada increase its inflation rate. -
May 30, 1997
Flexible Exchange Rates in a World of Low Inflation
There is a good deal of discussion these days about Economic and Monetary Union (EMU) in Europe - about the benefits and difficulties of organizing such a union. However, today I would like to examine a somewhat different issue, one that is at the other end of the spectrum; namely, How is the international system of flexible exchange rates working these days? -
May 20, 1997
Monetary Policy Report – May 1997
Since the last Report, the Canadian economy has advanced broadly in line with expectations. -
May 1, 1997
Price Stability, Inflation Targets and Monetary Policy
Proceedings of a conference - May 1997 (proceedings volume, available in electronic format only)