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Deputy Governor Lawrence Schembri discusses the Bank’s latest interest rate announcement and the behaviour of inflation in Canada.

Speaking a day after we decided to hold interest rates steady, Deputy Governor Lawrence Schembri discussed the key points Governing Council considered in their decision.

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.

As part of the regular management of the Bank of Canada’s (Bank) balance sheet, the Bank acquires assets to offset its liabilities, which consists mainly of bank notes in circulation and government deposits.

A consultation document on issues pertaining to the design and operation of the Real Return Bond program, prepared jointly by the Department of Finance (DoF) and the Bank of Canada (BoC), is being published today.

The Bank of Canada is pleased to announce the recipients of its 2019 Law Enforcement Award of Excellence for Counterfeit Deterrence.

Effective October 1, 2019, the Bank of Canada will no longer publish the monthly Chartered Bank Interest Rates. As well, the weekly rate will be relocated on our website.

As part of an ongoing review of the Bank’s collateral policy related to the Standing Liquidity Facility (SLF), the Bank is announcing two changes effective immediately. First, the Bank will introduce one new asset category (Other Public Sector), which combines the two previously-announced asset categories (Foreign Official Sector and Other Public Sector) into one category.

The Bank of Canada today published its 2020 schedule for policy interest rate announcements and the release of the quarterly Monetary Policy Report and reconfirmed the scheduled interest rate announcement dates for the remainder of this year.