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Information received since the last Monetary Policy Report, released on 17 November, points to a stronger pace of economic expansion in the United States and Europe than was expected at that time, and confirms the hesitant nature of the recovery in Japan.

The Canadian economy regained strong momentum in 1999 as the U.S. economy remained vigorous, the global economy recovered, and commodity prices moved upwards.

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Coins from Y1K

The largest of these coins is about the size of a twenty-five cent piece. They form part of the National Currency Collection, Bank of Canada.

Photography by James Zagon.

Since the May Report, the international economic environment has continued to improve. Economic activity abroad grew faster than expected, while inflation in the major economies remained subdued.

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Canadian dairy tokens

These tokens are part of the National Currency Collection at the Bank of Canada.

Photography by James Zagon.

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William Weir and the Silver Nuisance

The teapot is 10¼ inches high and 9½ inches wide and is part of the National Currency Collection at the Bank of Canada.

Photography by James Zagon.

Six months ago, at the time of the last Monetary Policy Report, the global economic and financial environment was volatile and highly uncertain because of the adverse situation in Asia and the fallout from the Russian debt moratorium.

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Merchant’s note, 1837

Approximately four by three inches in size, this bon is part of the National Currency Collection, Bank of Canada.

Photography by James Zagon.

Inflation remained low for the seventh consecutive year, and the inflation target range of 1 to 3 per cent was extended to 2001.

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1858 Canadian pattern cent

The 1858 pattern cent is approximately the size of a twenty-five cent piece.

Photography by James Zagon.