News

The Board of Directors of the Bank of Canada announced today that Governor Stephen S. Poloz has informed them that he will not seek a second term as Governor when his seven-year term expires on June 2, 2020.

Speaking a day after we decided to hold interest rates steady, Deputy Governor Timothy Lane explained that Canada’s economy remains resilient.

The Bank of Canada today maintained its target for the overnight rate at 1 ¾ percent. The Bank Rate is correspondingly 2 percent and the deposit rate is 1 ½ percent.

The Bank of Canada has announced the five finalist teams in the 2019-20 edition of The Governor’s Challenge, a competition where university students simulate the role of advisor to the Bank’s Governing Council.

The Canadian financial system and economy are in good shape to deal with whatever storms might arise from a weakening global context, Senior Deputy Governor Carolyn A. Wilkins said today.