November 14, 2005
Remarks
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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. -
June 28, 2005
The International Monetary Order and the Canadian Economy
As business people with ties to Canada and the United Kingdom, you are keenly interested in the economic prospects of both countries. When we look closely at our economies, it is striking how much they have in common in terms of policies and outlook. -
June 15, 2005
Adjusting to Change
Change is the central theme of my remarks today. First, I will talk about some of the changes that have taken place at the Bank of Canada over its 70-year history. Then, I'll talk about some of the changes that are currently taking place in the global economy, as well as how we see our economy - across Canada and right here in Manitoba - adjusting to these changes. -
June 9, 2005
How the Canadian Economy Is Adjusting to Global Forces
Rapid growth in emerging-market economies is driving up demand for commodities, and that has pushed up world prices for oil and many non-energy commodities. Meanwhile, productivity improvements in some countries and a competitive world environment are lowering the prices for some consumer goods, communications services, and computer equipment. -
June 2, 2005
Monetary Policy and the Exchange Rate in Canada
Canada's experience is interesting and potentially insightful for two important reasons. First, Canada has more experience with a flexible exchange rate than almost any other country.