February 12, 2024
The Bank’s Reconciliation Action Plan will guide the Bank as it continues its Reconciliation journey.
Reconciliation at the Bank of Canada
Since the Bank of Canada’s creation in 1934, we have operated in a context where Western cultural traditions have underpinned our policies and our work. These ways of thinking have shaped our organization in fundamental ways. We are committed to understanding their limitations and respecting and learning from other forms of knowledge.
Our vision for reconciliation is guided by the Bank’s mandate, values and engagements with our Indigenous and non-Indigenous partners. Our core values—think ahead, include everyone and inspire confidence—motivate us and define how we work together to achieve our overall vision: “To be a leading central bank—dynamic, engaged and trusted—committed to a better Canada.”
Although our reconciliation journey has been underway for many years, with many actions in different areas of the Bank, we recognize the need for a holistic plan to guide our approach. At the Symposium on Indigenous Economies in November 2021, Governor Tiff Macklem announced that we would be seeking input on a document to better define what reconciliation means for the Bank.
Since then, the Bank has engaged with:
- First Nations, Métis and Inuit leaders, community members, Elders and Knowledge Keepers
- organizations focused on the Indigenous economy
- Indigenous and non-Indigenous employees of the Bank
The purpose of these conversations was to deepen our understanding of the issues and challenges faced by Indigenous Peoples in Canada and guide us toward a common understanding of our commitments to reconciliation.
Feedback on the Reconciliation Action Plan
The Bank’s Reconciliation Action Plan will guide the Bank as it continues its Reconciliation journey. In line with our mandate, the draft action plan outlines two interconnected pathways to help us:
- build an equitable and inclusive organizational culture
- deepen our understanding of the Indigenous economy
We are asking for your input on the following questions:
- From your or your community’s perspective, how would you describe the Bank’s Reconciliation Action Plan?
- Given your knowledge of the Bank’s mandate, do the pathways support broader efforts toward reconciliation?
- The Reconciliation Action Plan will be a living document, updated periodically in conversation with Indigenous partners. Does this approach align with the spirit of reconciliation?
- Do you have any general feedback or advice that you would like to share about the draft Reconciliation Action Plan?
Once you have read the draft of the plan and reflected on these questions, please email your input or a request to meet with the team by March 31, 2024.
Your feedback will inform the Bank's final Reconciliation Action Plan which will be published on the Bank's website.
The Bank will continue to collaborate with Indigenous leaders and communities, and its employees, to fulfill its commitment to reconciliation, ensure transparency and continue to evolve its goals and actions.
We thank you for your time and effort in helping us on this journey.