News

The Bank of Canada announced today that Janet Cosier, Adviser to the Governor, has been appointed Chair of the Board of Directors of the Canadian Payments Association.

The Board of Directors of the Bank of Canada announced today that, pursuant to Section 6 of the Bank of Canada Act, it has appointed David Dodge as Governor of the Bank of Canada for a seven-year term, effective 1 February 2001.

The Bank of Canada today announced that it is maintaining the Bank Rate at 6 per cent. The operating band for the overnight rate is unchanged, and the Bank’s target for the overnight rate remains at 5 3/4 per cent.

In a speech to the Chambre de commerce du Montréal métropolitain, Bank of Canada Governor Gordon Thiessen reviewed the different sides of the argument with respect to a floating exchange rate regime, and concluded that a floating currency continues to make sense for Canada.

One of the issues that has often surfaced over the years is the exchange rate for the Canadian dollar. Indeed, over the past couple of years, it has been a topic of considerable public discussion.