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The Bank’s Overnight Reverse Repo (ORR) operations help reinforce the Bank’s target for the overnight rate in a floor system with large settlement balances.

Tiff Macklem, Governor of the Bank of Canada
Interview with The Current on CBC Radio

Nicolas Vincent, Deputy Governor of the Bank of Canada
Interview with Zone économie on Radio-Canada

Nicolas Vincent, Deputy Governor of the Bank of Canada, will give an interview to Radio-Canada’s Gérald Fillion.

Tiff Macklem, Governor of the Bank of Canada, was interviewed on CBC’s radio show The Current. The program airs tomorrow morning and begins at 8:30 (Eastern Time).

Governor Tiff Macklem discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR.

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%.

On Wednesday, October 25, 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. The Bank will also publish its quarterly Monetary Policy Report (MPR) at the same time as the rate decision.

Bankers’ Acceptances (BAs) will no longer be issued by the major Canadian banks after the cessation of the Canadian Dollar Offered Rate’s (CDOR) publication in June 2024.