We are Canada's central bank. We work to preserve the value of money by keeping inflation low and stable.

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March 23, 2021

Supporting markets in tough times

Speech summary Toni Gravelle CFA Society Toronto Toronto, Ontario
Deputy Governor Toni Gravelle talks about actions the Bank of Canada took to make sure financial markets could work smoothly during the COVID-19 pandemic. He also discusses the Bank’s plans to discontinue some programs.
Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Coronavirus disease (COVID-19), Financial institutions, Financial markets, Financial system regulation and policies, Lender of last resort, Monetary policy
March 11, 2021

Household consumption in a pandemic

Speech summary Lawrence L. Schembri Restaurants Canada Toronto, Ontario
Deputy Governor Lawrence Schembri talks about how COVID-19 has affected household saving and spending patterns and discusses the Bank’s decision yesterday to leave the policy rate unchanged.
Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Coronavirus disease (COVID-19), Domestic demand and components, Monetary policy, Recent economic and financial developments, Service sector
March 10, 2021

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

Media Relations Ottawa, Ontario
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. The Bank is maintaining its extraordinary forward guidance, reinforced and supplemented by its quantitative easing (QE) program, which continues at its current pace of at least $4 billion per week.
Content Type(s): Press, Press releases

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Exchange Rates

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.