October 1, 2001
Taylor Rules Workshop
Conference Proceedings October 2001 (papers in unedited, electronic format only)
Uncategorized
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September 21, 2001
Current Developments in the Canadian Economy
Right now, last week's tragic events in the United States are uppermost in people's minds. Like millions of people around the globe, Canadians are very concerned about the situation. We all share in the sheer horror of what has happened. -
September 21, 2001
Opening Statement by David Dodge, Governor of the Bank of Canada
Today, we released a section of the speech that I was to give in Moncton two days ago. It deals with current economic developments. The speech was postponed in light of last week's tragic events in the United States.
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September 17, 2001
Bank of Canada lowers key policy interest rate by 1/2 percentage point to 3 1/2 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 3 1/2 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 3 3/4 per cent. -
August 28, 2001
Bank of Canada lowers key policy interest rate by 1/4 percentage point to 4 per cent
The Bank of Canada today announced that it is lowering its target for the overnight rate* by one-quarter of one percentage point to 4 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 4 1/4 per cent. With today's action, the total reduction in interest rates by the Bank this year amounts to 1 3/4 percentage points. -
August 10, 2001
Proposed Terms and Conditions for Auctions of Receiver General Cash Balances
On behalf of the Minister of Finance, the Department of Finance and Bank of Canada are releasing today draft terms and conditions for participation in Receiver General auctions. These auctions are the means by which the government invests its short-term Canadian dollar cash balances. -
August 2, 2001
Summer Market Consultations 2001
Overview The objectives of debt strategy are to provide stable, low cost funding for the federal government, and to maintain and enhance a well-functioning market for Government of Canada securities. A key element of the strategy is to maintain a prudent debt structure, with approximately two-thirds of the debt stock in fixed-rate instruments. The Government […] -
August 2, 2001
Summer Consultations - Market Views Sought on Issues Relating to the Design and Operation of Government Debt Programs over 2001-02 and Beyond
A consultation document on issues relating to the design and operation of government debt programs over 2001-2002 and beyond, prepared jointly by the Department of Finance and the Bank of Canada, is being made public today. -
Predetermined Prices and the Persistent Effects of Money on Output
This paper illustrates a model of predetermined pricing, where firms set a fixed schedule of nominal prices at the time of price readjustment, based on the work of Fischer (1977). This type of price-setting specification cannot produce any excess persistence in a fixed-duration model of staggered prices, but we show that with a probabilistic model of price adjustment, as in Calvo (1983), a predetermined pricing specification can produce excess persistence. -
August 1, 2001
Monetary Policy Report Update – August 2001
The Bank’s outlook for inflation and overall economic activity in Canada to the end of 2002 has not changed fundamentally from that presented in the May Monetary Policy Report.