Canadians are seizing the opportunities provided by the spread of digital technology, Governor Stephen S. Poloz said in a speech today. While people working in disrupted industries need help in order to adapt, the overall benefits of new technology are beyond question, he said.
Senior Deputy Governor Wilkins discusses economic developments since the July Monetary Policy Report and Governing Council’s deliberations leading to yesterday’s policy rate decision.
The Bank of Canada today maintained its target for the overnight rate at 1 ½ per cent. The Bank Rate is correspondingly 1 ¾ per cent and the deposit rate is 1 ¼ per cent.