Bank of Canada Annual Report 2004

The Bank of Canada has published its Annual Report for 2004. In the report the Bank said a major challenge during 2004 was the strong appreciation in the value of the Canadian dollar.

During 2005, research and analysis will continue to focus on this challenge and on preparing for the renewal of the Bank's inflation-targeting agreement with the Government of Canada in 2006, the annual report said.

"We will also be closely examining the broad economic forces and trends that Canada will face in the

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