December 9, 2004 Financial System Efficiency: A Canadian Imperative Remarks David Dodge Empire Club of Canada and the Canadian Club of Toronto Toronto, Ontario When I talk about the "financial system," I am referring to financial institutions and markets, the infrastructure, laws, and regulations that govern and support their operations, and the macroeconomic framework within which they operate. My message for you is that improving the efficiency of Canada's financial system is imperative. Content Type(s): Press, Speeches and appearances, Remarks
October 13, 2007 Estimating the Cost of Equity for Canadian and U.S. Firms Bank of Canada Review - Autumn 2007 Lorie Zorn Financing costs are important for both firms and the economy, affecting investment decisions and, ultimately, economic growth. Despite concern among policy-makers that the cost of equity financing may be higher in Canada than in the United States, empirical evidence supporting this view is mixed. Yet Canadian firms may not undertake as many projects that could potentially enhance growth if the cost of equity financing in Canada is relatively high. The article summarizes research by Jonathan Witmer and Lorie Zorn on the influences on the cost of equity in Canada and the United States, using an updated methodology that controls for firm characteristics and aggregate-level factors. In their sample, the cost of equity was 30–50 basis points higher in Canada over 1988 to 2006 but appears to have dropped in the post-1997 period. The results have policy implications related to such factors as firm size, disclosure, and securities regulation and enforcement. Content Type(s): Publications, Bank of Canada Review articles
December 31, 2005 Summary of Government of Canada - Outstanding as at 31 December 2005 Content Type(s): Publications, Historical: Securities and loans
May 20, 2003 Updating the Bank of Canada Commodity Price Index Bank of Canada Review - Spring 2003 Todd Hirsch The Bank of Canada Commodity Price Index (BCPI) summarizes the price movements of 23 commodities produced in Canada. Information provided by the BCPI is used in analyzing movements in GDP, industrial producer prices, inflation, and the exchange rate. Effective 15 May 2003, a number of changes will be reflected in the BCPI. To ensure that the index accurately reflects the natural resource sectors of the economy, a number of new components and pricing sources have been incorporated into the BCPI. Weights in the new index will be chained to 1 January 1991 and 1 January 2000 to better reflect contemporary values. Content Type(s): Publications, Bank of Canada Review articles
April 30, 2013 Research Update - April 2013 This monthly newsletter features the latest research publications by Bank of Canada economists including external publications and working papers published on the Bank of Canada’s website. Content Type(s): Staff research, Research newsletters
September 15, 2008 Adjusting to the Commodity-Price Boom: The Experiences of Four Industrialized Countries Bank of Canada Review - Autumn 2008 Michael Francis Between 2002 and 2008, global commodity prices rose to unprecedented levels. This article examines the process of adjustment to the commodity boom in four industrialized, commodity-exporting countries (Australia, Canada, New Zealand, and Norway). The article focuses on both the direct adjustment within the commodity-producing sectors (via increased employment and capital spending) and the indirect adjustment in the macro economy. The analysis finds that the indirect adjustment process, which was triggered by the increase in incomes that the commodity-price boom generated, has been the most important part of the adjustment in all four economies. Through this channel, aggregate demand rose, exchange rates appreciated, and adjustment was facilitated in other sectors, such as manufacturing and construction. Content Type(s): Publications, Bank of Canada Review articles
February 24, 2016 Connecting the Dots: Elevated Household Debt and the Risk to Financial Stability Remarks Lawrence L. Schembri Guelph Chamber of Commerce Guelph, Ontario Deputy Governor Lawrence Schembri discusses household debt, the risk it poses to financial stability and the role of the Bank of Canada. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Financial system, Financial stability, Funds management, Monetary policy, Economy/Economic growth, Inflation
October 16, 1998 Bank Rate Lowered by ¼ Percentage Point to 5½ Per Cent Media Relations Ottawa, Ontario The Bank of Canada today lowered its Bank Rate by ¼ of one percentage point to 5½ per cent. Content Type(s): Press, Press releases