Canada
Bank of Canada Working Paper on Taylor Rules
In this Working Paper from the Bank of Canada the authors compute welfare-maximizing Taylor rules in a dynamic general-equilibrium model of a small open economy. They find that the welfare gains from moving to the optimal Taylor rule are larger than…
Bank of Canada issues new $20 banknotes
The Bank of Canada put Canada's new $20 banknotes into circulation on Wednesday 29 September. The new notes will be distributed and become available across the country over the next few weeks.
The U.S. new Keynesian Phillips curve
The authors of this Bank of Canada Working Paper examine the evidence that the inflation dynamics in the United States can be well-described by the New Keynesian Phillips curve (NKPC). They find that the empirical evidence for the real marginal cost is…
Dodge on Canadian monetary policy
In a speech on 'Canadian Monetary Policy in an Evolving World Economy' given on 20 September, David Dodge of the Bank of Canada spoke about the implications for Canada of world economic trends, particularly the rise to prominence of China and India. …
Canada's prospects best for year: Dodge
Bank of Canada Governor David Dodge told Finance Minister Ralph Goodale in July the country's chances of steady economic and job growth are the best in years, Bloomberg News reported under Canada's Access to Information Act.
Bank of Canada raises interest rates 0.25%
The Bank of Canada announced on Wednesday 8 September that it would raise its key overnight interest rate by one-quarter of a percentage point to 2.25 per cent, a move widely expected by financial markets. In a press release the bank said with the…
Canada's Longworth on monetary policy, uncertainty
In a speech on 'Monetary Policy and Uncertainty' given on 23 August, David Longworth of the Bank of Canada discusses various types of uncertainty and how the Bank of Canada deals with them in conducting monetary policy.
Bank of Canada Review, Summer 2004
The Bank of Canada has published its Review for Summer 2004. The Review contains four articles including "The Canadian Experience with Counterfeiting" which proposes a composite method of detecting counterfeits as an effective alternative to existing…
Basel and the cyclical behaviour of bank capital
In this Bank of Canada Working Paper "The New Basel Capital Accord and the Cyclical Behaviour of Bank Capital" the authors conduct a counterfactual simulation of the proposed rules under the new Basel Capital Accord (Basel II).
Canada hints at September rate rise
In a speech on August 23, Bank of Canada Deputy Governor David Longworth gave strong signals that the bank is contemplating raising its overnight interest rate from two percent at its September 8 meeting.
Canada's new banknotes to be issued in autumn
The Bank of Canada plans to issue a new $50 note, the final banknote in the Canadian Journey series, on 17 November. Before that the bank expects to put the new $20 note into circulation beginning late September.
Bank of Canada Monetary Policy Report Update
The Bank of Canada released its Update to the April Monetary Policy Report on 22 July. The Update discusses current economic and financial trends in the context of Canada's inflation-control strategy. Economic growth in Canada should average about 3.5…
Bank of Canada keeps interest rates unchanged
The Bank of Canada announced on Tuesday 20 July that it is maintaining its target for the overnight rate at 2 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 2 1/4 per cent, the bank said in a press release.
Bank of Canada appoints Special Adviser
The Bank of Canada announced the appointment of Professor Christopher Ragan to the position of Special Adviser during the year 2004-2005 this week. Professor Ragan, whose areas of interest include government debt, inflation, monetary policy, and exchange…
Bank of Canada, Business Outlook Survey, Summer 04
The Bank of Canada published its Summer 2004 Business Outlook Survey on 12 July. Businesses are somewhat more optimistic about the outlook than they were in the spring, the Survey reported, reflecting increased confidence about the robustness of the…
Canada's Dodge on the changing world economy
In a speech on 'The Changing World Economy: What It Means for Canada' given on 16 June, David Dodge of the Bank of Canada said the Canadian economy is well placed to adjust to the major changes underway in the world economy. While Canada has adopted the…
Canada's Dodge calls for global trade rules
Speaking in Paris on Thursday 24 June, Bank of Canada Governor David Dodge urged the adoption of coordinated global trade rules and accounting practices, but said countries still need to plot their own economic course.
Bank of Canada Financial System Review, June 2004
The Bank of Canada published its semi-annual Financial System Review on 10 June. Economic forecasts of global growth in 2004 have been revised upwards significantly. In addition, favourable financing conditions and the efforts of firms to restructure…
Bank of Canada keeps interest rate unchanged at 2%
The Bank of Canada announced on Tuesday 8 June that it is maintaining its target for the overnight rate at 2 per cent. In a press release it said all things considered, the Bank's outlook for economic growth and core inflation is essentially unchanged…
Canada's Kennedy on capital markets
In a speech on 'Canada's Capital Markets: How Do They Measure Up?' given on 27 May, Sheryl Kennedy of the Bank of Canada compares the efficiency of Canada's capital markets with those in other countries. She concludes with a discussion of monetary policy…
BoC's Kennedy says oil prices lifting inflation
In a speech on Thursday 27 May, Bank of Canada Deputy Governor Sheryl Kennedy said that higher oil prices and strong global demand are pushing Canada's inflation rate higher than was forecast in the April Monetary Policy Report.
Bank of Canada Review, Spring 2004
The Bank of Canada has published its Review for Spring 2004. In its business outlook survey, the bank said that Canadian companies remained positive about the outlook for the next year, but a bit less so than they had three months earlier.
Retired central bank staff in Canada may sue
A group of 1,200 Bank of Canada retirees may sue the central bank, claiming it refuses to discuss sharing a surplus in the employee pension plan, a report by Bloomberg said.
Dodge sets the standards in expenses
Bank of Canada governor David Dodge is setting new standards in what one report called "tight monetary policy" with a relatively low expenses bill for the last quarter, released by the Bank of Canada this week.