Monetary Policy Report - Press Conference (Webcasts) - July 2021

Release of the Monetary Policy Report - Press conference by Governor Tiff Macklem (11:00 (ET) approx.).

Monetary Policy Report

Monetary Policy Report – July 2021

As the economy reopens after the third wave of COVID-19, growth should rebound strongly. The Bank is forecasting growth of about 6 percent this year, slowing to about 4 ½ percent in 2022 and 3 ¼ percent in 2023.

Bank of Canada maintains policy rate and forward guidance, adjusts quantitative easing program

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.

Monetary Policy Report Press Conference Opening Statement

Governor Tiff Macklem discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR.