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  • 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

    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

    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

    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

    Annual Report 2020

    The Annual Report outlines the Bank’s activities and achievements in 2020. It includes the financial statements and a message from Governor Tiff Macklem.
  • 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.
  • April 22, 2021

    Monetary policy

    Like other economies around the world, the Canadian economy was hit hard by COVID-19. Following the onset of the pandemic and the introduction of measures to contain its spread, gross domestic product (GDP) fell by more than 10 percent in the first half of 2020.
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