January 20, 2021
We are Canada's central bank. We work to preserve the value of money by keeping inflation low and stable.
News
January 20, 2021
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.
Content Type(s):
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Press releases
January 20, 2021
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.
Monetary Policy Report – January 2021
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Publications,
Monetary Policy Report
January 11, 2021
In the winter Business Outlook Survey, firms pointed to a continued recovery supported by strengthening domestic and foreign demand, particularly in goods-producing sectors. Still, firms expect the recovery to be uneven; in particular, businesses that have been hit hard by the pandemic anticipate challenging times ahead.
Business Outlook Survey—Winter 2020–21
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Business Outlook Survey
January 11, 2021
The Canadian Survey of Consumer Expectations (CSCE) collects respondents’ views on inflation, the labour market and household finances. The survey for the fourth quarter of 2020 was conducted from November 10 to December 1, 2020. This period coincides with a sharp increase in COVID‑19 cases across Canada and follows announcements about the development of effective vaccines. Since the survey was conducted, some provinces have imposed additional measures to contain the spread of the virus. In addition, the first vaccines have begun to be administered. Like the previous two surveys, the fourth-quarter survey included questions on the impacts of COVID‑19 and the measures to contain its spread. This survey also asked respondents how they used any benefits they received from income-support programs that governments put in place to help them through the pandemic. This quarter, the report provides some details by demographic characteristics.
Canadian Survey of Consumer Expectations—Fourth Quarter of 2020
Content Type(s):
Publications,
Canadian Survey of Consumer Expectations
Canadian dollar
Schedule of Key Interest Rate Announcements and Monetary Policy Report
Eight times a year, the Bank announces its decision on the setting of its key policy interest rate.
Market Notices
- January 22, 2021 Bank of Canada announces changes to securities repo operations
- January 11, 2021 Operational details for upcoming secondary market purchases of Government of Canada securities (January 18-January 28)
- December 18, 2020 Operational details for upcoming secondary market purchases of Government of Canada securities (January 4-15)
- December 18, 2020 Return to Standard Terms for Government of Canada Bond Auctions
- December 11, 2020 Operational details for upcoming secondary market purchases of Government of Canada securities (December 21-December 31)
Upcoming Events
- February 10, 2021 Speech: Timothy Lane, Deputy Governor
- February 12, 2021 Release: Senior Loan Officer Survey
- February 15, 2021 Family Day
- February 23, 2021 Speech: Tiff Macklem, Governor
- March 10, 2021 Interest Rate Announcement