The Bank of Canada said it has opened the registration period for retail payment service providers (PSPs) that are subject to the Retail Payments Activities Act. The start of registration marks an important milestone for the payments industry as it comes under regulation, as well as for the Bank as it takes on the mandate of … Read more
The Bank of Canada reduced its target for the overnight rate to 3¾ per cent, with the Bank Rate at 4 per cent and the deposit rate at 3¾ per cent. The Bank is continuing its policy of balance sheet normalization. The next scheduled date for announcing the overnight rate target is Dec. 11, 2024. The full … Read more
The Board of Directors of the Bank of Canada has initiated a recruitment process to fill a new external Deputy Governor position. The Board has formed a selection committee to spearhead the selection process and has retained recruitment firm Boyden to assist with the open external search process. Advertisements for the position have been posted online. The Bank … Read more
The Bank of Canada Museum launched a new free educational resource titled You Are the Economy. It is a suite of six free lesson plans on economic and financial literacy for Grade 7–12 students across Canada. Available in both official languages, the teaching resource addresses an “urgent need in current educational materials by offering engaging, relatable and gamified activities … Read more
The Bank of Canada unveiled its first Reconciliation Action Plan, which affirms the Bank’s commitment to reshaping its relationship with Indigenous Nations and Peoples, fostering an inclusive and equitable organizational culture, and championing thriving Indigenous economies. “The Bank’s role is to promote the economic and financial welfare of everyone in Canada. Our approach to Reconciliation is … Read more
The Bank of Canada reduced its target for the overnight rate to 4¼ per cent, with the Bank Rate at 4½ per cent and the deposit rate at 4¼ per cent. The Bank is continuing its policy of balance sheet normalization. The next scheduled date for announcing the overnight rate target is October 23, 2024. The … Read more
The Bank of Canada published two new research papers: Decision Synthesis in Monetary Policy by Tony Chernis, Gary Koop, Emily Tallman and Mike West; and Price Discounts and Cheapflation During the Post-Pandemic Inflation Surge by Alberto Cavallo and Oleksiy Kryvtsov. The full release is available online.
The Bank of Canada published a staff analytical note, CORRA: Explaining the rise in volumes and resulting upward pressure, by Boran Plong and Neil Maru on its website.
The Bank of Canada announced the names of three external experts who will provide an independent assessment of its review of exceptional policy actions taken during the COVID-19 pandemic. The Bank’s Governing Council engaged three external experts to provide an independent assessment of this review: Pablo Hernández de Cos, former Governor of the Bank of Spain, … Read more
The Bank of Canada reduced its target for the overnight rate to 4½ per cent, with the Bank Rate at 4¾ per cent and the deposit rate at 4½ per cent. The Bank is continuing its policy of balance sheet normalization. The next scheduled date for announcing the overnight rate target is September 4, 2024. The … Read more
