November 24, 2020 The Bank of Canada has announced the five finalist teams in the 2020-21 edition of The Governor’s Challenge, a competition where university students simulate the role of advisor to the Bank’s Governing Council.
November 19, 2020 In accordance with amendments to the Bank of Canada Act and the Currency Act approved by Parliament in 2018, the federal government will remove legal tender status from some older bank notes as of January 1, 2021.
November 16, 2020 The Bank of Canada and the Office of the Superintendent of Financial Institutions (OSFI) today announced plans for a pilot project to use climate-change scenarios to better understand the risks to the financial system related to a transition to a low-carbon economy.
November 9, 2020 The Bank of Canada today announced that the independent Advisory Council has selected a short list of eight iconic Canadians who could be featured on the next $5 bank note.
November 5, 2020 Senior Deputy Governor Carolyn A. Wilkins has informed the Bank’s Board of Directors that her last day at the Bank will be December 9, 2020.
October 28, 2020
Bank of Canada will maintain current level of policy rate until inflation objective is achieved, recalibrates its quantitative easing programThe Bank of Canada today maintained 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.
October 9, 2020
Central banks and BIS publish first central bank digital currency (CBDC) report laying out key requirementsThis joint press release announces the publication of a report identifying the foundational principles necessary for any publicly available central bank digital currencies to help central banks meet their public policy objectives.
September 17, 2020 The Board of Directors of the Bank of Canada announced today that Senior Deputy Governor Carolyn A. Wilkins informed them that she will not seek a second term.
September 9, 2020
Bank of Canada maintains commitment to current level of policy rate, continues program of quantitative easingThe Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. The Bank is also continuing its quantitative easing (QE) program, with large-scale asset purchases of at least $5 billion per week of Government of Canada bonds.
August 24, 2020 The Bank of Canada today launched an online public consultation to gather Canadians’ views on the Bank’s approach to monetary policy. The “Let’s Talk Inflation” campaign is part of an effort to reach out to all Canadians before the Bank renews its agreement with the federal government on the monetary policy framework in 2021.