August 10, 2020 Bank of Canada Governor Tiff Macklem has designated Interac e‑Transfer® as a prominent payment system under the Payment Clearing and Settlement Act, effective August 10, 2020. This brings Bank oversight to this payment system and ensures it remains a safe, viable and effective method of payment for Canadians.
July 30, 2020
Bank of Canada publishes its 2021 schedule for policy interest rate announcements and other major publications, makes change to effective date of rate decisionsThe Bank of Canada today published its 2021 schedule for policy interest rate announcements and the release of the quarterly Monetary Policy Report. It also reconfirmed the scheduled interest rate announcement dates for the remainder of this year.
July 15, 2020
Bank of Canada will maintain current level of policy rate until inflation objective is achieved, continues program of quantitative easingThe Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent.
June 30, 2020 The Bank for International Settlements (BIS) and the Bank of Canada announced today they will be launching a BIS Innovation Hub centre to advance fintech innovation within the central banking community.
June 15, 2020 The Bank of Canada is now the administrator of the Canadian Overnight Repo Rate Average (CORRA) and will post today the first rate calculated using an improved methodology.
June 3, 2020
Bank of Canada maintains target for the overnight rate, scales back some market operations as financial conditions improveThe 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.
May 25, 2020 A risk management approach to monetary policy will help guide the Bank of Canada’s actions as the economy goes through extreme uncertainty stemming from the COVID-19 pandemic, Governor Stephen S. Poloz said today.
May 6, 2020 The Bank of Canada’s Annual Report for 2019 was tabled in the House of Commons today.
May 1, 2020 The Directors of the Bank of Canada, appointed under Section 9 of the Bank of Canada Act, today announced that they have appointed Tiff Macklem as Governor of the Bank of Canada for a seven-year term, effective 3 June 2020.
April 15, 2020 The Bank of Canada today maintained its target for the overnight rate at ¼ percent, which the Bank considers its effective lower bound. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. The Bank also announced new measures to provide additional support to Canada’s financial system.