The Bank of Canada today reduced its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is continuing its policy of balance sheet normalization.
On Wednesday, June 5, 2024, the Bank of Canada will announce its decision on the target for the overnight rate. A press release will provide a brief explanation of the decision.
On Thursday, May 30, 2024, Ron Morrow, Executive Director of Payments, Supervision and Oversight at the Bank of Canada, will speak at The Payments Canada SUMMIT.
Executive Director of Payments, Supervision and Oversight Ron Morrow talks about how payments have evolved in Canada and why it’s important to modernize our payment infrastructure.
Ron Morrow, Executive Director of Payments, Supervision and Oversight, talks about the evolution of payments in Canada, as well as the Bank’s new supervisory role for payment service providers.
As of 3 June 2024, all Government of Canada auctions of its treasury bills, bonds and Cash Management Bond Buybacks (CMBB) will be subject to T+1 settlement. This move will follow the Canadian secondary market’s own transition to T+1 settlement, expected to occur on Monday, 27 May 2024.