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Effective Monday, 22 July 2013, the Bank is increasing the target for the minimum daily level of settlement balances to $250 million, from its current level of $25 million. This measure will remain in effect until further notice.

Press conference following the release of the Monetary Policy Report.

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

Deputy Governor Tim Lane will discuss the importance of shadow banking, its fragilities, and reform efforts underway to make it more resilient.

Bank of Canada Governor Stephen S. Poloz discusses the structural damage to the Canadian economy caused by the crisis, and the need to rebuild Canada’s economic capacity and strengthen business confidence.

For Canada’s economy to grow in a self-sustaining, self-generating fashion, capacity needs to be rebuilt and business confidence strengthened, Bank of Canada Governor Stephen S. Poloz said today in a speech to the Oakville Chamber of Commerce. Although the Canadian economy has recovered the jobs and output lost during the recession, the structural damage caused […]