The Bank of Canada announced the introduction of a new commodity price index on Monday. The new index, known as the Bank of Canada Commodity Price Index, or BCPI, replaces the old fixed-weight commodity price index (FWBCPI). The index is a weighted index of US-dollar prices of commodities produced in Canada and sold in world markets.
Two changes mean the new index will, the Bank said, provide a more accurate and relevant measure of commodity price movements than the old index. First, annual upda