December 13, 1999 Feedback Rules for Inflation Control: An Overview of Recent Literature Bank of Canada Review - Winter 1999–2000 Agathe Côté, Jamie Armour Feedback rules are rules aimed at guiding policy-makers as they face the problem of keeping inflation close to a desired path without causing variability elsewhere in the economy. These rules link short-term interest rates, controlled by the central bank, to the rate of inflation and/or its deviation from a target rate. The authors describe the most popular types of feedback rules and review some simulation results. Content Type(s): Publications, Bank of Canada Review articles
December 6, 1999 The Canadian economy, productivity, and our standard of living Remarks Gordon Thiessen The Fraser Institute Vancouver, British Columbia Over the past couple of years, there has been considerable debate about productivity and our standard of living in Canada. For the most part, the discussion of these issues has been useful, but at times it has been somewhat confusing. Content Type(s): Press, Speeches and appearances, Remarks
December 6, 1999 Bank of Canada Governor speaks to The Fraser Institute Media Relations Vancouver, British Columbia There is increasing international consensus that monetary policy can contribute to productivity growth and rising standards of living by establishing a stable, low-inflation environment, Bank of Canada Governor Gordon Thiessen told The Fraser Institute in a speech today. Content Type(s): Press, Press releases
November 17, 1999 Monetary Policy Report – November 1999 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. Content Type(s): Publications, Monetary Policy Report
November 17, 1999 Release of the Monetary Policy Report Opening statement Gordon Thiessen Good morning. The Bank of Canada has just released its tenth Monetary Policy Report. This morning, we also raised our target for the overnight interest rate by 1/4 of one percentage point to 4 3/4 per cent. This follows a similar increase yesterday in the U.S. Federal Funds rate to 5 ½ per cent. The […] Content Type(s): Press, Speeches and appearances, Opening statements
November 17, 1999 Bank of Canada releases its semi-annual Monetary Policy Report Media Relations Today the Bank of Canada released its tenth Monetary Policy Report in which it discusses economic and financial trends in the context of Canada's inflation-control strategy. Content Type(s): Press, Press releases
November 17, 1999 Bank Rate Raised by ¼ Percentage Point to 5 Per Cent Media Relations Ottawa, Ontario The Bank of Canada today raised its Bank Rate by ¼ of one percentage point to 5 per cent. Content Type(s): Press, Press releases
November 16, 1999 The Corporate Bond Market in Canada Bank of Canada Review - Autumn 1999 Martin Miville, André Bernier The Canadian corporate bond market has experienced a renaissance, in recent years, against a background of low inflation, reduced public borrowing, and the lowest levels of long-term interest rates in a generation. The authors examine the influences shaping the market and also compare the Canadian market with those of other countries. The increased level of activity in the market has been accompanied by the development of new products and by greater investor interest in instruments with higher returns and higher credit risk. A more dynamic Canadian corporate bond market is a welcome development since it offers borrowers an alternative source of funds, especially companies that have typically relied on the banking system and on the U.S. corporate bond market for financings involving higher levels of credit risk. Content Type(s): Publications, Bank of Canada Review articles
November 16, 1999 Bank of Canada Review - Autumn 1999 Cover page Canadian dairy tokens These tokens are part of the National Currency Collection at the Bank of Canada. Photography by James Zagon. Content Type(s): Publications, Bank of Canada Review
November 15, 1999 Markets for Government of Canada Securities in the 1990s: Liquidity and Cross-Country Comparisons Bank of Canada Review - Autumn 1999 Toni Gravelle In this article, the author reviews the factors behind the recent evolution of liquidity in the market for Government of Canada (GoC) securities. He finds that liquidity has been supported by changes in the structure of the market, notably the introduction and increasing size of benchmark bond issues. He also notes that while the GoC bond market has generally benefited from changes in market structure, liquidity in the treasury bill market has decreased since the mid-1990s, largely because of the declining supply of these securities. This article also presents some comparisons of liquidity in the government securities markets of other industrialized countries and finds that liquidity in the Canadian market appears to compare favourably with all but the large U.S. Treasury market. Content Type(s): Publications, Bank of Canada Review articles