April 19, 2005
Speeches
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April 15, 2005
How Canada is Adjusting to Global Economic Forces
The Bank of Canada has been examining the issue of how the Canadian economy adjusts movements in the exchange rate for a long time. Canada's economy is very open, so we always need to understand how exchange rate movements are affecting real economic activity and, in turn, what the implications are for monetary policy. -
April 14, 2005
Release of the Monetary Policy Report
The Bank expects Canada's economy to grow by about 2 1/2 per cent in 2005 and 3 1/4 per cent in 2006, with growth this year and next coming primarily from strength in domestic demand. To continue to support aggregate demand, we decided to leave the target for the overnight rate unchanged at 2.5 per cent on 12 April. -
March 30, 2005
Canada's Competitiveness: The Importance of Investing in Skills
Productivity plays a critical role when it comes to our national standard of living. Productivity growth is the main element that contributes to continued improvements in real incomes and overall prosperity. Rising productivity lets businesses pay higher wages, while keeping costs down, employment high, and profits coming in. That's why economists like me spend a lot of time thinking about ways to improve the productivity of our economy. -
March 21, 2005
Inflation Targeting: A Canadian Perspective
The invitation is timely, given that the Bank of Canada's inflation-targeting agreement with the Canadian government is up for renewal next year. At the Bank, we are always reflecting on our framework, deciding what works well and what we can improve. Against that backdrop, we have watched with interest the debate taking place here in the United States - inside and outside the Federal Reserve - about whether that institution should join the ranks of inflation-targeting central banks. -
February 17, 2005
Monetary Policy and Exchange Rate Movements
Every year, the Canadian Press surveys news directors and editors to select the top business story of the year. In 2004, they picked the rise of the Canadian dollar. That was not a surprising choice. -
January 27, 2005
Release of the Monetary Policy Report Update
The outlook for the Canadian economy continues to be shaped by global developments, including the realignment of world currencies. The near-term outlook for the global economy is a touch weaker than projected in the October Report, but more solidly based because of somewhat lower oil prices and greater confidence in the momentum of the U.S. economy. -
December 9, 2004
Financial System Efficiency: A Canadian Imperative
When I talk about the "financial system," I am referring to financial institutions and markets, the infrastructure, laws, and regulations that govern and support their operations, and the macroeconomic framework within which they operate. My message for you is that improving the efficiency of Canada's financial system is imperative. -
November 24, 2004
Opening Statement before the Senate Committee on Banking, Trade and Commerce
The Canadian economy grew faster in the first half of the year than we had projected, largely because of a surge in exports. The economy is now operating near its production capacity and continues to adjust to global developments. -
November 22, 2004
Governor Dodge's speech on behalf of Canada's Finance Minister, Ralph Goodale
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