Press Conference: Monetary Policy Report – October 2021
Release of the Monetary Policy Report — Press conference by Governor Tiff Macklem (11:00 (ET) approx.).
The Canadian economy is once again growing robustly, and the recovery from COVID-19 continues. The Bank is forecasting growth of around 5 percent in 2021, 4 ¼ percent in 2022 and 3 ¾ percent in 2023.
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.