February 1, 2006
Remarks
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January 12, 2006
Canada's Monetary Policy Framework: Dealing with Global Economic Change
The constant economic change that we've been experiencing makes it critical for the central bank to stand on a firm foundation as it works to enhance the country's economic strength. The Bank of Canada's monetary policy framework is such a foundation. -
December 12, 2005
Our Approach to Monetary Policy: Inflation Targeting
This year also marks the 70th anniversary of the creation of the Bank of Canada, and we too have taken the time to celebrate our contributions to Canada. At such times, while it is appropriate to look back and celebrate history and accomplishments, it is also a good opportunity to look forward and think about where we are headed. In this spirit, I'd like to talk to you today about one of our main responsibilities; that is, the conduct of monetary policy. -
November 28, 2005
Investing in Productivity
Measures of productivity tell us how much output we produce from the use of tangible inputs - such as skilled workers and capital equipment - and intangible inputs - such as technological advances and managerial and entrepreneurial know-how. Productivity rises over time as we boost output by finding new and more efficient ways to use these inputs. -
November 14, 2005
Inflation Targeting in Canada: Design, Lessons, and Challenges
Today, I want to share with all of you Canada's perspective on the design of an inflation-targeting system, some of the lessons we have learned over almost 15 years of experience with explicit inflation targets, and some of the challenges that remain. This topic is timely, because the Bank of Canada's inflation-targeting agreement with the Canadian government is up for renewal next year, and I am pleased to note that, earlier today, the Government announced its intention to renew our agreement for another five years. -
November 9, 2005
Economic and Financial Efficiency: The Importance of Pension Plans
Over the past year, I have spoken a number of times on the topic of efficiency, and why it is so important for Canadian policy-makers to keep in mind the goal of an efficient financial system. Today, I want to talk about Canada's system of pension plans and how they contribute to the efficiency of financial markets and of the economy as a whole. -
November 4, 2005
International symposium of the Banque de France
As globalization intensifies, more and more regions are realizing the benefits of open trade and capital account liberalization. But with increased globalization also comes increased exposure to shocks originating outside each country's borders. -
October 25, 2005
RCMP management retreat
It's not surprising that the Bank of Canada is interested in promoting economic integrity. After all, the Bank of Canada Act mandates us, as far as possible within the scope of monetary policy action, to "promote the economic and financial welfare of Canada." -
September 22, 2005
Financial System Efficiency: Getting the Regulatory Framework Right
The Bank of Canada has been contributing to the goal of an efficient financial system in a number of ways. The Bank's monetary policy aims to keep inflation low, stable, and predictable. -
September 9, 2005
The Evolution and Resolution of Global Imbalances
Today, I will talk about two types of global economic imbalances. The first relates to the way that savings and investment are being distributed across countries in an increasingly uneven way. The second is the possibility that, over the next couple of decades, the global economy might face a protracted period in which desired savings exceed planned investment, partly because of demographic trends.