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The Bank announced it is making an adjustment to the deposit rate. Effective January 30, the deposit rate will be set at a spread of 5bps below the Bank’s policy interest rate.

Today, the Bank of Canada is announcing its plan to complete its balance sheet normalization, ending quantitative tightening.

The Bank of Canada today reduced its target for the overnight rate to 3%, with the Bank Rate at 3.25% and the deposit rate at 2.95%.

Governor Tiff Macklem discusses the Monetary Policy Report and the key issues involved in the Governing Council’s deliberations about the monetary policy decision.

On Wednesday, January 29, 2025, the Bank of Canada will announce its decision on the target for the overnight rate. A press release will provide a brief explanation of the decision. The Bank will also publish its quarterly Monetary Policy Report (MPR) at the same time as the rate decision.

On Monday, January 20, 2025, the Bank of Canada will release the fourth quarter issues of the Business Outlook Survey and the Canadian Survey of Consumer Expectations.

The Bank of Canada’s exceptional policy actions during the COVID-19 pandemic provided important support for the economy during the unprecedented shock, says a review published today.

On Friday, January 17, 2025, the Bank of Canada will publish its report on the exceptional policy actions undertaken in response to the COVID-19 pandemic. The documents will also include a review by an external panel of experts, and a response from the Bank’s Governing Council.

Deputy Governor Toni Gravelle provides an update on when quantitative tightening will end and explains how the Bank of Canada will manage its balance sheet going forward.