News

Good afternoon, Mr. Chairman and committee members. Senior Deputy Governor Wilkins and I are pleased to be back before you today to discuss the Bank’s Monetary Policy Report (MPR), which we published this morning. It has been six months almost to the day since we were last here, and several of the broad themes that […]

Governor Stephen S. Poloz discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR.

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent.

Growth in the Canadian economy is expected to increase from 1.1 per cent this year to about 2.0 per cent in 2017 and 2018.

The autumn Business Outlook Survey provides some signs of improving business prospects, as resource-related activity appears to be gradually bottoming out and foreign demand is providing steady support to firms’ sales expectations.