Monetary Policy Report – January 2021

Available as: PDF

While a second wave of COVID-19 is hurting Canadians now, the economy should rebound strongly later in the year. The Bank is forecasting growth of around 4 percent this year and close to 5 percent in 2022.

What you need to know about the Bank of Canada’s assessment of the Canadian economy.

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

The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent.

Monetary Policy Report - Press Conference (Webcasts) - January 2021

Release of the Monetary Policy Report - Press conference by Governor Tiff Macklem (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.