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In observance of National Day for Truth and Reconciliation—a new national holiday to commemorate the tragic history and lasting effects of Canada’s residential school system, and to honour Indigenous survivors and their families and communities—the Bank of Canada, as a federally regulated workplace, will be closed on September 30, 2021.

The Bank of Canada today published the Bank of Canada Oversight Activities for Financial Market Infrastructures 2020 Annual Report. The Report reviews the Bank’s oversight of designated clearing and settlement systems, also known as financial market infrastructures (FMIs).

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).

Deputy Governor Timothy Lane talks about the Bank’s decision yesterday to leave the policy rate unchanged. He also discusses how adopting digital technologies supported resilience during the COVID-19 pandemic.

Deputy Governor Tim Lane talks about the Bank’s latest interest rate announcement and discusses how the digital transformation has supported resilience through the pandemic and may be adding to the economy’s growth potential.

The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent.

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).