The net open foreign reserve position was reduced further to $ billion at the end of July 2002 following the stated approach that the Bank adopted in October 2001.
Stephen S Poloz: Toward 2021: the power - and limitations - of policy Remarks by Mr Stephen S Poloz, Governor of the Bank of Canada, to the Chamber of Commerce of Metropolitan Montreal, Montreal, Quebec, 21 February 2019. * * *  Introduction As the country’s central bank, our responsibilities are spelled out in the Bank of Canada Act.