Press releases

The Government and the Bank agree that monetary policy must work to promote the economic and financial well-being of Canadians. We also agree that the best way monetary policy can do this is by keeping inflation low, stable and predictable, thereby protecting Canadians from large increases in the cost of living.

The Bank of Canada today increased its target for the overnight rate by 25 basis points to 2.5%, with the Bank Rate at 2.75% and the deposit rate at 2.45%.

The Board of Directors of the Bank of Canada has initiated a recruitment process to fill the external Deputy Governor position left vacant by the appointment of Nicolas Vincent as a full-time Deputy Governor.

Her Excellency the Right Honourable Louise Arbour, Governor General of Canada, and the Honourable Wayne Long, Secretary of State (Canada Revenue Agency and Financial Institutions), joined Bank of Canada Governor Tiff Macklem today at an event to unveil Canada’s new vertical $20 bank note featuring a portrait of His Majesty King Charles III.

The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%.

The G7 Cyber Expert Group (CEG) successfully concluded its 2026 Cross-border coordination exercise (CBCE) on May 18, 2026. This exercise demonstrates the Group’s ongoing commitment to strengthening cyber resilience across the G7 financial sector.

The Bank of Canada today published its 2027 schedule for policy interest rate announcements and the release of the quarterly Monetary Policy Report.

The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%.

The Bank of Canada today published a report summarizing the feedback it received from stakeholders and the Canadian public during consultations on its monetary policy framework.

The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%.