The Board of Directors of the Bank of Canada today announced that Tiff Macklem has been appointed Senior Deputy Governor for a term of seven years beginning 1 July, 2010.
Thank you for inviting me here today. It is a pleasure to be with you. This afternoon, I would like to talk about liquidity and the role of the Bank of Canada.
In accordance with the schedule of term purchase and resale agreement (PRA) auctions announced on 19 January (see schedule), the Bank of Canada announced today that it will conduct a term PRA operation
With improvements in financial conditions, economic activity, commodity prices, and confidence, the Bank of Canada anticipates that there will be a relatively modest recovery this year in business fixed investment in Canada, and an acceleration of investment spending in 2011.
In coordination with other central banks, the Bank of Canada confirms the expiration of its US $30 billion swap facility with the Federal Reserve on 1 February 2010. This facility, which was established to counter pressures in global funding markets, is no longer needed, given the improvements in financial market functioning seen over the past year.