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The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening.

On Wednesday, December 6, 2023, 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.

In 2021, CARR published “Recommended fallback language for FRNs referencing CDOR” which recommended that CDOR-linked floating rate notes (FRNs), including floating rate NHA MBS, fall back from CDOR to a CORRA fallback rate (“Fallback Rate (CORRA)” as defined in the document).

The Bank of Canada today published a report summarizing the feedback it has received to date about a potential digital Canadian dollar.

Executive Director of Supervision Ron Morrow discusses the creation and coming into force of a new supervision regime to oversee retail payments.

On Tuesday, November 28, 2023, Ron Morrow, Executive Director – Supervision, of the Bank of Canada, will speak before the Central 1 Credit Union’s Momentum 2023 Summit.

The Bank of Canada has announced the five finalist teams in the 2023–24 edition of The Governor’s Challenge, a competition where university students simulate the role of advisor to the Bank’s Governing Council.

On Wednesday, November 22, 2023, Tiff Macklem, Governor of the Bank of Canada, will speak before the Saint John Region Chamber of Commerce.