Canada's approach to monetary policy

The ultimate goal of Canadian monetary policy is maintaining a low, stable rate of inflation in order to foster efficient economic performance and a rising standard of living for Canadians. More specifically, the Bank of Canada aims to keep inflation inside a target range of 1 to 3 percent. This range, established jointly with the federal government, was first announced in 1991 and has been extended through the end of 2006. Over the medium term, the target applies to total CPI. The Bank also uses a core CPI measure as a guide to future inflation developments over the shorter term. The Bank of Canada's operational target is the overnight rate, which is set at the midpoint of a 50 basis point operating band.Monetary policy - Canada ; Bank of Canada ; Banks and banking, Central - Canada

Re-balancing act : global imbalances in a changing world

The world has been confronting unusually large current account imbalances for so long now that international policy makers have almost stopped warning that these represent a major risk to the world economic outlook. This essay featured in the 2006 annual report summarizes presentations and discussion at the 51st economic conference of the Federal Reserve Bank of Boston, “Global Imbalances - As Giants Evolve,” which was held in June 2006.Balance of trade ; International trade

Australia's approach to monetary policy

According to Australia's Reserve Bank Act, the central bank's broad policy objectives include maintaining the stability of the currency, full employment, and the economic prosperity and welfare of the people of Australia. In 1993 the Reserve Bank of Australia adopted a specific, and thus transparent, inflation target as its operating objective; it aims to keep overall inflation between 2 percent and 3 percent on average over the business cycle.Monetary policy - Australia ; Reserve Bank of Australia ; Banks and banking, Central - Australia

Perspective: outsourcing jobs overseas: a cause for concern?

A rash of media stories has heightened concern about foreign outsourcing of U. S. jobs. But analyses show that many of these reports may have exaggerated the extent and economic impact of jobs moving overseas.Contracting out ; Employment

Sweden's approach to monetary policy

The Sveriges Riksbank, the Swedish central bank, is an authority under the Riksdag (parliament) with responsibility for monetary policy. Its objectives are to maintain price stability and to promote a safe and efficient payment system. With the advent of the new regime, which went into effect in January 1999, the Riksdag appoints the Riksbank's Governing Council, which, in turn, appoints its Executive Board, including its Chairman, who serves as Governor of the Riksbank. A member of the Executive Board may not be a member of the Riksdag, a government minister, or an employee of the Government Office. Further, Executive Board members may not take or seek instructions with regard to monetary policy. Thus, the Executive Board has instrument, but not goal, independence.Sweden ; Monetary policy - Sweden ; Banks and banking, Central - Sweden

Competition & opportunity

Banks and banking ; Banking law ; Regulation Q: Prohibition Against Payment of Interest on Demand Deposits

Technology and growth: an overview

Technology ; Economic development

The impact of demographic change on U. S. labor markets

According to the U. S. Census Bureau projections, the United States will face dramatic demographic changes over the next one hundred years. Indeed, the country will be entering largely uncharted territory. In the twenty-first century, the population is expected to grow more slowly than ever before over an extended period. The population will also age rapidly, with the share of the population over 65 climbing to a succession of new record highs. Finally, the United States will once again become a nation of immigrants. Over the past decade, the wave of new immigrants has already neared proportions last seen in the early 1900s at the end of the Great Migrations. And this inflow is projected to persist throughout the coming century, with new immigrants and the children of those immigrants contributing well over half of the increase in the U. S. population. Because the source of this inflow has shifted from Europe to Latin America and Asia, this new wave will change the voice and face of America forever.Demography ; Economic conditions ; Labor market

Seismic shifts: the economic impact of demographic change: an overview

Most economic developments are hard to predict. Considerable uncertainty surrounds forecasts for output growth, inflation, and unemployment a year from now, for instance. But demographic developments are different in this respect. Although demographic surprises abound, the major trends build slowly, and the broad contours of medium-term outcomes become discernible well in advance.Demography ; Economic conditions

Rethinking the International Monetary System: an overview

Monetary policy ; International finance