000004190 001__ 4190
000004190 003__ CaOOB
000004190 005__ 20250211163913.0
000004190 040__ $$aCaOOB$$beng$$erda
000004190 041__ $$aeng
000004190 043__ $$an-cn---
000004190 245__ $$aMonetary Policy Report Update$$bJanuary 2004
000004190 264_1 $$aOttawa, Ontario :$$bBank of Canada,$$c2004
000004190 269__ $$a2004
000004190 300__ $$a1 online resource (5 pages)
000004190 336__ $$aText
000004190 337__ $$2rdamedia$$acomputer$$bc
000004190 338__ $$2rdacarrier$$aonline resource$$bcr
000004190 347__ $$atext$$bPDF
000004190 520__ $$aSince the October Monetary Policy Report, three developments have led the Bank of Canada to modify its outlook for economic growth and inflation in Canada. First, economic activity in the rest of the world, especially in the United States, has been stronger than expected. Second, the U.S. dollar has continued its sharp depreciation against major world currencies, including the Canadian dollar, largely as a result of global economic imbalances. Third, downward revisions to Canadian GDP data in the first half of 2003 and lower than-expected growth in the third and fourth quarters mean that the amount of economic slack was somewhat larger at the end of 2003 than projected by the Bank in its October Report. Weighing these developments and their likely persistence, the Bank lowered its projection for output over the next year and a half and concluded that additional monetary stimulus would be required to support aggregate demand and return inflation to 2 per cent over the medium term. Thus, on 20 January, the Bank lowered its target for the overnight interest rate by 25 basis points to 2 1/2 per cent (Chart 1).
000004190 538__ $$aSystem requirements: Adobe Acrobat Reader.
000004190 650_0 $$aMonetary policy$$zCanada.$$aPolitique monétaire$$zCanada.
000004190 7102_ $$aBank of Canada.
000004190 7750_ $$iFrench version$$tMise à jour du Rapport sur la politique monétaire : janvier 2004$$w4211
000004190 8301_ $$aMPR Update
000004190 8564_ $$uhttps://www.oar-rao.bank-banque-canada.ca/record/4190/files/mpr0104.pdf$$98383e404-2c28-4d29-92d3-4129c1b1d5ab$$s33028$$zFile Source: Bank of Canada website, 2024
000004190 909CO $$ooai:www.oar-rao.bank-banque-canada.ca:4190$$pbibliographic
000004190 980__ $$aIR
000004190 980__ $$aMonetary Policy Report
000004190 991__ $$aPublic