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• The Canadian Banking System

  Technical Report No. 81 Charles Freedman

  This paper examines the major changes in the Canadian banking system since the Second World War, with special attention paid to the differences between Canadian and U.S. developments over this period.

  Content Type(s): Staff research, Technical reports Research Topic(s): Financial institutions JEL Code(s): G, G2

• International Borrowing, Specialization and Unemployment in a Small, Open Economy

  Staff Working Paper 1998-2 Patrick Osakwe, Shouyong Shi

  Empirical evidence suggests that the unemployment rate and the export/GNP ratio are positively correlated with external debt across developing countries. This paper develops a dynamic model that provides an explanation for the aforementioned relationships. The central idea of our paper is that international borrowing affects unemployment and specialization patterns by unevenly changing the risk-sharing structure—across […]

  Content Type(s): Staff research, Staff working papers Research Topic(s): International topics JEL Code(s): F, F3, J, J6
• February 5, 1998

  International developments and the prospects for the Canadian economy

  Remarks Gordon Thiessen Saint John, New Brunswick

  A year ago, in early 1997, prospects for global economic growth were very promising. World economic activity had strengthened and was expected to accelerate further, with the benefit of low inflation, reduced fiscal imbalances, and stable or declining interest rates. In Canada too, output and employment growth had picked up.

  Content Type(s): Press, Speeches and appearances, Remarks
• January 30, 1998

  Bank Rate Raised to 5 Per Cent

  Media Relations Ottawa, Ontario

  The Bank of Canada today raised its Bank Rate by ½ of one percentage point to 5 per cent.

  Content Type(s): Press, Press releases
• January 29, 1998

  Annual Report 1997

  

  With inflation remaining low for the sixth consecutive year, the Canadian economy recorded a strong expansion of about 4 per cent through 1997.

  Content Type(s): Publications, Annual Report
• December 12, 1997

  Bank Rate Raised to 4 1/2 Per Cent

  Media Relations Ottawa, Ontario

  The Bank of Canada today raised its Bank rate by ½ of one percentage point to 4 ½ per cent.

  Content Type(s): Press, Press releases

• Constraints on the Conduct of Canadian Monetary Policy in the 1990s: Dealing with Uncertainty in Financial Markets

  Technical Report No. 80 Kevin Clinton, Mark Zelmer

  Canada's economic performance in the first half of the 1990s was adversely affected by high premiums in interest rates that were brought on by political and economic uncertainties.

  Content Type(s): Staff research, Technical reports Research Topic(s): Monetary policy and uncertainty, Monetary policy implementation, Monetary policy transmission JEL Code(s): E, E5, E58
• December 1, 1997

  What can monetary policy do to help the economy reach its full potential?

  Remarks Gordon Thiessen Canadian Club of Toronto Toronto, Ontario

  Today, we meet against a backdrop of some uncertainty in the international economy. I would like to begin my remarks with an assessment of what the recent financial and economic events in Asia could mean for Canada.

  Content Type(s): Press, Speeches and appearances, Remarks
• November 25, 1997

  Bank Rate Raised in Response to Persistent Weakness in the Canadian Dollar

  Media Relations Ottawa, Ontario

  The Bank of Canada today raised the Bank Rate by 1/4 of one percentage point to 4 per cent. The Bank's operating band for the overnight rate was similarly adjusted.

  Content Type(s): Press, Press releases
• November 20, 1997

  Monetary Policy Report – November 1997

  In the last half-year, the economic expansion in Canada has become well established, supported by low inflation, highly stimulative monetary conditions, and a strong U.S. economy.

  Content Type(s): Publications, Monetary Policy Report