As the nation's central bank, the Bank of Canada has four main areas of responsibility:
The Bank contributes to solid economic performance and rising living standards for Canadians by keeping inflation low, stable and predictable. Since 1991, the Bank’s monetary policy actions toward this goal have been guided by a clearly defined inflation target.
The Bank designs, produces and distributes Canada’s bank notes and replaces worn notes. It deters counterfeiting through leading-edge bank note design, public education and collaboration with law-enforcement agencies
The Bank promotes a stable and efficient financial system in Canada and internationally. To this end, the Bank oversees Canada’s key payment, clearing and settlement systems; acts as lender of last resort; assesses risks to financial stability; and contributes to the development of financial system policies.
The Bank provides effective and efficient funds-management services for the Government of Canada, as well as on its own behalf and for other clients. For the government, the Bank provides treasury-management services and administers and advises on the public debt and foreign exchange reserves. In addition, the Bank provides bank¬ing services to critical payment, clearing and settlement systems.