The Bank of Canada today maintained its target for the overnight rate at 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent.
Results from the spring Business Outlook Survey point to a moderation from previously high levels of domestic and foreign demand for firms in most regions. Investment and employment intentions remain positive.
Overall household lending conditions were once again unchanged this quarter. Although business lending conditions were unchanged overall, some marginal price easing was driven by corporate lending conditions.
Senior Deputy Governor Carolyn A. Wilkins discusses how the competitive landscape and digitalization affect monetary policy and why central banks care about market power.
Canada’s economy can build on its traditional strengths by taking advantage of export opportunities in rapidly growing service sectors to overcome the current challenging environment, Bank of Canada Governor Stephen S. Poloz said today.