The Bank of Canada has held its target for the overnight rate at 2.75%, citing global trade uncertainty and domestic economic resilience amid U.S. tariffs. In its July Monetary Policy Report, the Bank presents three tariff-based scenarios rather than conventional GDP and inflation projections, noting a likely 1.5% GDP contraction in Q2 2025, followed by … Read more
The Bank of Canada maintained its target for the overnight rate at 2.75 per cent, with the Bank Rate at 3 per cent and the deposit rate at 2.70 per cent. The next scheduled date for announcing the overnight rate target is July 30, 2025. The full release is available online.
The Bank of Canada and the Government of Canada announced that adjustments to the GoC’s Debt Distribution Framework will come into effect on Sept. 2, 2025. The changes were first announced in a March market notice. As part of these changes, the Standard Terms for Auctions of GoC Securities will be amended. For reference, the new Standard Terms have been published … Read more
The Bank of Canada maintained its target for the overnight rate at 2.75 per cent, with the Bank Rate at 3 per cent and the deposit rate at 2.70 per cent. The major shift in direction of US trade policy and the unpredictability of tariffs have increased uncertainty, diminished prospects for economic growth, and raised … Read more
The Board of Directors of the Bank of Canada announced the appointment of Michelle Alexopoulos as an external Deputy Governor for a term of two years, effective March 17, 2025. Dr. Alexopoulos’ appointment is the result of a public external recruitment process and will bring the size of the Bank’s Governing Council to seven members on an ongoing … Read more
The Bank of Canada reduced its target for the overnight rate to 3 per cent, with the Bank Rate at 3.25 per cent and the deposit rate at 2.95 per cent. The Bank is also announcing its plan to complete the normalization of its balance sheet, ending quantitative tightening. The Bank will restart asset purchases in … Read more
The Bank of Canada’s exceptional policy actions during the COVID-19 pandemic provided important support for the economy during the unprecedented shock, says a review published on Jan. 17. The review highlights lessons that will shape the Bank’s response in the event of future crises. “The Bank of Canada is a learning institution, and we must take on … Read more
The Bank of Canada today reduced its target for the overnight rate to 3¼ per cent, with the Bank Rate at 3½ per cent and the deposit rate at 3¼ per cent. The Bank is continuing its policy of balance sheet normalization. The next scheduled date for announcing the overnight rate target is Jan. 29, 2025. … Read more
The Bank of Canada published the list of companies that have applied to be registered under the Retail Payment Activities Act (RPAA). The publication of the applicants’ list is the latest milestone as the Bank takes on the mandate of supervising retail payment service providers. “I’m pleased by the extent of companies that applied to register,” said Ron Morrow, … Read more
The Bank of Canada has announced the six finalist teams in the 2024-25 edition of The Governor’s Challenge, a competition where university students simulate the role of advisor to the Bank’s Governing Council. The full release is available online.
