News

Today the Bank of Canada released its tenth Monetary Policy Report in which it discusses economic and financial trends in the context of Canada's inflation-control strategy.

The Bank of Canada today raised its Bank Rate by ¼ of one percentage point to 5 per cent.

Monetary policy actions take a relatively long time to affect the economy and inflation—anywhere between 12 to 24 months. Because of this, central banks must always look ahead and must put in place today the monetary conditions that are needed to help keep the economy on a sustainable path down the road. By 'sustainable' I mean a situation where economic growth and job creation are not at risk from rising inflation.

The Bank of Canada expects a positive economic picture going into next year, Bank of Canada Governor Gordon Thiessen told the Greater Charlottetown Area Chamber of Commerce today.

It is always a pleasure to return and speak to people in my home province. This time, we are here for a meeting of the Bank of Canada's Board of Directors. Once a year, our Board meets outside Ottawa, in a different part of the country. This year, we are delighted to be in Regina.