July 26, 2022
We are Canada's central bank. We work to preserve the value of money by keeping inflation low and stable.
News
July 13, 2022
Monetary Policy Report Press Conference Opening Statement
Governor Tiff Macklem discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR.
Content Type(s):
Press,
Speeches and appearances,
Opening statements
July 13, 2022
Bank of Canada increases policy interest rate by 100 basis points, continues quantitative tightening
The Bank of Canada today increased its target for the overnight rate to 2½%, with the Bank Rate at 2¾% and the deposit rate at 2½%.
Content Type(s):
Press,
Press releases
July 13, 2022
The Canadian economy is now clearly in excess demand, and inflation is high and broadening. The Bank is projecting inflation to decline to about 3% by the end of 2023, and to return to the 2% target by the end of 2024.
Monetary Policy Report – July 2022
Content Type(s):
Publications,
Monetary Policy Report
July 4, 2022
Household differences and why they matter
Differences in income, wealth and debt across households are important—for the economy, for the health of the financial system and for monetary policy.
Content Type(s):
Publications,
The Economy, Plain and Simple
Topic(s):
Central bank research,
Coronavirus disease (COVID-19),
Domestic demand and components,
Economic models,
Housing,
Inflation and prices,
Labour markets,
Monetary policy,
Monetary policy framework,
Recent economic and financial developments
Why raise rates when Canadians are already feeling stretched with their budgets?
— Bank of Canada (@bankofcanada) August 10, 2022
Higher interest rates help reduce spending and that lowers inflation.
Keep reading to learn how. #CdnEcon #AskTheBoC
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Canadian dollar
Market notices
- August 3, 2022 CARR publishes recommended fallback language for CDOR-based loans
- July 29, 2022 CFEC Releases Results of April 2022 Foreign Exchange Volume Survey
- June 14, 2022 CARR extends Term CORRA consultation deadline to 30 June
- June 9, 2022 Government of Canada Cancels Ultra-Long Bond Issuance
- May 16, 2022 CARR welcomes RBSL’s decision to cease the publication of CDOR after June 28, 2024
Upcoming events
- August 15, 2022 Release: Senior Loan Officer Survey
- September 5, 2022 Labour Day
- September 7, 2022 Interest Rate Announcement
- September 30, 2022 National Day for Truth and Reconciliation
- October 10, 2022 Thanksgiving Day