The Bank of Canada today increased its target for the overnight rate to 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent.
The Bank of Canada is looking for partners in the private sector and academia to experiment with digital tools and technology, such as artificial intelligence and machine learning.
Today, Bank of Canada Governor Stephen S. Poloz welcomed students and teachers to the Bank of Canada Museum for the launch of Money and Monetary Policy in Canada.
Canadians are seizing the opportunities provided by the spread of digital technology, Governor Stephen S. Poloz said in a speech today. While people working in disrupted industries need help in order to adapt, the overall benefits of new technology are beyond question, he said.
The Bank of Canada today maintained its target for the overnight rate at 1 ½ per cent. The Bank Rate is correspondingly 1 ¾ per cent and the deposit rate is 1 ¼ per cent.
The Bank of Canada today published its 2019 schedule for policy interest rate announcements and the release of the quarterly Monetary Policy Report, and reconfirmed the scheduled interest rate announcement dates for the remainder of this year.