December 13, 2021 Governor Tiff Macklem discusses the renewed monetary policy framework agreed upon by the Government of Canada and the Bank of Canada.
December 13, 2021
Joint Statement of the Government of Canada and the Bank of Canada on the Renewal of the Monetary Policy FrameworkThe objective of Canada's monetary policy is to promote the economic and financial well-being of Canadians. Experience has shown that the best way monetary policy can achieve this goal is by maintaining a low and stable inflation environment. Doing so supports a strong and inclusive labour market that provides every Canadian with opportunities for a good quality of life.
December 8, 2021 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.