April 22, 2021
Posts
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April 22, 2021
In focus: Digitalization and data
To remain a leader in a highly complex digital world, the Bank is undertaking a digital transformation. As a data-driven institution, the Bank understands the importance of providing its staff with the latest technology and data. -
April 22, 2021
Governor's foreword
The year 2020 was like no other. It began with the unemployment rate in Canada near an all-time low, inflation very close to its 2 percent target and the Bank of Canada’s policy interest rate at 1¾ percent. Canada’s economy was healthy. A year later, we are far from home. -
April 22, 2021
Global engagement
As COVID-19 spread around the world, governments and central banks took unprecedented fiscal, monetary and financial stability actions to support economic activity and maintain global financial stability. -
April 22, 2021
Currency
A higher-than-usual demand for cash put pressure on bank note inventories and the Bank’s operations centres. Navigating these pressures required agility and innovation. -
April 22, 2021
In focus: Extraordinary operations
In response to the COVID-19 crisis, the Bank designed and launched a suite of liquidity facilities and asset purchase programs. These tools were integral in restoring market functioning and in keeping credit flowing to the economy. -
April 22, 2021
In focus: Climate change
Climate change poses risks to the economy and financial system, threatening the ability of central banks to achieve their mandates. As such, it was an important area of focus for the Bank in 2020. -
April 22, 2021
Communications and outreach
The Bank found creative ways to connect with Canadians online. It successfully adapted its speeches, conferences and educational activities—including the Bank of Canada Museum—to a virtual format. -
April 22, 2021
2020 Financial results
This section provides a narrative discussion outlining the key highlights of the Bank’s financial results for the year ended December 31, 2020. -
April 22, 2021
Managing the Bank
The pandemic required the Bank to find innovative ways to manage its operations in 2020. Bank staff quickly implemented ideas and tools that were already in development and helped the Bank to adapt almost every aspect of its business to the challenging circumstances.