October 24, 2016
Joint Statement of the Government of Canada and the Bank of Canada on the Renewal of the Inflation-Control TargetThe Government of Canada and the Bank of Canada agreed that the inflation target will continue to be defined in terms of the 12-month rate of change in the total CPI, that it will continue to be the 2 per cent mid-point of the 1 to 3 per cent inflation-control range, and that the agreement will run for another five-year period, ending 31 December 2021.
October 19, 2016 The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent.
October 6, 2016 The Canadian economy is undergoing important, complex adjustments following the drop in oil prices over the past two years and in the context of the longer trends of population aging and modest productivity growth, Senior Deputy Governor Carolyn Wilkins said today.