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A table of indicators related to the implementation of monetary policy that includes the operating band, settlement balances and other Bank of Canada operations.

I am honoured to address members of the Canadian Association for Business Economics. My remarks today will focus on critical issues that the Bank of Canada has studied over the past four years and how this research will inform our work as we move forward post crisis.

The Bank of Canada is pleased to announce the recipients of its 2010 Law Enforcement Award of Excellence for Counterfeit Deterrence. The award was established in 2004 to recognize the work of Canadian law-enforcement personnel in deterring and preventing the counterfeiting of Canada's bank notes.

Often dubbed the “multicoloured series,” these bank notes were released beginning in 1969 in response to growing concerns about counterfeiting.

Access videos about our bank notes, along with images past and present. Images in this gallery are available for non-commercial use only.

The recent financial crisis and global economic slowdown have renewed interest in monetary policy options when the policy interest rate is at or near zero.

Stephen Murchison reviews the findings of recent Bank of Canada research on the relative merits of inflation targeting and price-level targeting (PLT) for a small open economy, such as Canada's, that is susceptible to large and persistent terms-of-trade shocks.

The authors examine whether monetary policy should and could do more to lean against financial imbalances (such as those associated with asset-price bubbles or unsustainable credit expansion) as they are building up, or whether its role should be limited to cleaning up the economic consequences as the imbalances unwind.

Although the current inflation-targeting regime has served Canadians well, sound public policy demands the continuous exploration of possible improvements in the monetary policy framework.

Examination of how, when the policy interest rate is at or near zero, different monetary policy frameworks might help to lower the risk and economic cost of such a scenario; review of the findings of recent Bank of Canada research on the relative merits of inflation targeting and price-level targeting (PLT) for a small open economy; examination of monetary policy being used to counteract financial imbalances; conference summary: new frontiers in monetary policy design.