Bank of Canada Governor Gordon Thiessen today reviewed the impact of turmoil in the global economy and international financial markets on Canada's economy and monetary policy.
On behalf of the Minister of Finance, the Bank of Canada announced today the operational framework for the previously announced pilot bond buyback program.
On behalf of the Minister of Finance, the Bank of Canada announced today that "Revised rules pertaining to auctions of Government of Canada securities and the Bank of Canada's surveillance of the auction process," released 11 August 1998, will take effect on 14 October 1998.
On behalf of the Minister of Finance, it was announced today that Canada has renegotiated its existing U.S.$6.0 billion standby credit facility with international banks.