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Monetary Policy Report – July 2020

Available as: PDF

The Bank expects a sharp rebound in economic activity in the reopening phase of the recovery, followed by a more prolonged recuperation phase.

Erratum: The data for Chart 1-b on page 1 were plotted incorrectly. See revised chart.

What you need to know about the Bank of Canada’s assessment of the Canadian economy as the reopening phase of the recovery from COVID-19 begins.

Bank of Canada will maintain current level of policy rate until inflation objective is achieved, continues program of quantitative easing

The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent.

Monetary Policy Report - Press Conference (Webcasts) - July 2020

Release of the Monetary Policy Report - Press conference by Governor Tiff Macklem and Senior Deputy Governor Carolyn A. Wilkins. (11:00 (ET) approx.).

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.