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The survey results point to an overall easing in business-lending conditions during the second quarter of 2010. Both the price and non-price aspects of business lending eased during the quarter. Note that the balance of opinion indicates only the direction of the change in lending conditions; it does not provide information on the magnitude of the change.

For the first time in two years, firms, on balance, reported an improvement in their past sales activity. While the balances of opinion on future sales growth and investment are lower than in recent surveys, and firms are concerned about global uncertainties, overall, they are positive about the outlook for business activity over the next 12 months.

To better understand the dynamics of the Chinese economy and its interaction with the global economy, the authors incorporate China into an existing model for the G-3 economies (i.e., the United States, the euro area, and Japan), paying particular attention to modelling the exchange rate and monetary policy in China.

The results of today's term repo for balance sheet management purposes operation.

The Bank of Canada announced today that it will conduct a Term Repo for Balance Sheet Management Purposes operation.

Timothy Hodgson, Chief Executive Officer of Goldman Sachs Canada, has been appointed Special Adviser to the Governor. During a period when financial regulation and market infrastructure are evolving rapidly, the Bank of Canada will benefit from Mr. Hodgson’s profound and extensive experience in investment banking and markets.

Governor Mark Carney has been named Chairman of the Committee on the Global Financial System (CGFS), a forum for central banks to discuss policy issues related to financial markets and systems.

The Board of Directors of the Bank of Canada today announced the appointment of Agathe Côté as Deputy Governor of the Bank effective 30 July 2010.

The recent past has underscored the fact that, in finance and the economy, most things are interconnected on a global scale. Throughout its history, Canada has been powerfully affected by events elsewhere.

Bank of Canada published a report establishing a set of principles to guide the extraordinary liquidity interventions it was making in response to the systemic shocks buffeting the Canadian financial system. These principles provided a framework for maintaining consistency between the Bank’s actions and its responsibilities as lender of last resort to the financial system, while allowing sufficient fl exibility to respond to the unique challenges of the crisis.