Press releases

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.

The 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.

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.

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.

The 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.

The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent.

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.

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.

The 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.

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.