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Governor Tiff Macklem talks about the Bank of Canada’s decision yesterday to raise its policy interest rate. He explains that after two years of extraordinary stimulus, we are now on a path of rising interest rates.

The Bank of Canada has cancelled the Securities Repo Operation (SRO) for March 2, 2022 after a data processing issue prevented the settlement of this morning’s auction. The affected primary dealers have been informed.

Today the Bank confirmed that monetary policy will continue to be implemented via a floor system where the interest rate on the deposit facility is equal to the target for the overnight rate. To reinforce the Bank’s overnight target rate in a floor system with excess settlement balances, the Bank is also announcing changes to its Overnight Reverse Repo (ORR) operations.

The Bank of Canada today increased its target for the overnight rate to ½ %, with the Bank Rate at ¾ % and the deposit rate at ½ %.

The Bank of Canada is pleased to announce this year’s recipients of its scholarship awards  for students with disabilities, Indigenous students and students who identify as a woman or as a member of a visible minority or racialized group.

As previously announced, the Bank of Canada (the Bank) launched on April 1, 2020 a program to purchase Government of Canada securities in the secondary market – the Government Bond Purchase Program (GBPP).

The Bank of Canada announced today that Deputy Governor Lawrence L. Schembri will retire on June 17, 2022.

Bank of Canada Deputy Governor Tim Lane discusses how the Bank responds to uncertainty in turbulent times.

Deputy Governor Tim Lane discusses how the Bank of Canada approached decision making during the unprecedented upheaval brought on by the COVID‑19 pandemic.