Bank of Canada Governor Tiff Macklem has designated Interac e‑® as a prominent payment system under the Payment Clearing and Settlement Act, effective August 10, 2020. This brings Bank oversight to this payment system and ensures it remains a safe, viable and effective method of payment for Canadians. The full release is available online. Call 613-782-8782.
The Bank of Canada published a new research paper, Privacy in CBDC technology by Sriram Darbha and Rakesh Arora, on its website.
The Bank of Canada lowered its target for the overnight rate by 50 basis points to 1.25 per cent. The Bank Rate is correspondingly 1.5 per cent and the deposit rate is 1 per cent. While Canada’s economy has been operating close to potential with inflation on target, the COVID-19 virus is a material negative shock … Read more
The Bank of Canada maintained its target for the overnight rate at 1.75 percent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1.5 percent. The global economy is showing signs of stabilization, however there remains a high degree of uncertainty and geopolitical tensions have re-emerged. The Bank now estimates growth of 0.3 percent … Read more
The Bank of Canada maintained its target for the overnight rate at 1.75 per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1.5 per cent. The outlook for the global economy has weakened further since the Bank’s July Monetary Policy Report. Ongoing trade conflicts and uncertainty are restraining business investment, trade, and global … Read more
The bank published a new staff research paper, Online Job Seekers in Canada: What Can We Learn from Bing Job Queries? by André Binette, Karyne B. Charbonneau, Nicholas Curtis, Gabriela Galassi, Scott Counts and Justin Cranshaw. The paper is available online.
In accordance with amendments to the Bank of Canada Act and the Currency Act approved by Parliament in 2018, the federal government recently decided to remove legal tender status from some older bank notes as of January 1, 2021. This change will affect the $1, $2, $25, $500 and $1,000 notes, which are no longer being produced. Essentially, this means that … Read more
The Bank of Canada published a new research paper, Estimating the Effect of Exchange Rate Changes on Total Exports by Thierry Mayer and Walter Steingress on its website.
The Bank of Canada released a new research paper, Do Survey Expectations of Stock Returns Reflect Risk Adjustments? by Klaus Adam, Dmitry Matveev and Stefan Nagel. The paper is available online.
The bank published a research paper, The State of Labour Market Churn in Canada, by Olena Kostyshyna and Corinne Luu. The full release is available online.
