March 13, 2020 The Bank of Canada today lowered its target for the overnight rate by 50 basis points to ¾ percent, effective Monday, March 16, 2020. The Bank Rate is correspondingly 1 percent and the deposit rate is ½ percent. This unscheduled rate decision is a proactive measure taken in light of the negative shocks to Canada’s economy arising from the COVID-19 pandemic and the recent sharp drop in oil prices.
March 9, 2020 The independent Advisory Council will develop a short list of iconic Canadians who could be featured on the next bank note.
March 4, 2020 The Bank of Canada today lowered its target for the overnight rate by 50 basis points to 1 ¼ percent. The Bank Rate is correspondingly 1 ½ percent and the deposit rate is 1 percent.
March 3, 2020 We, G7 Finance Ministers and Central Bank Governors, are closely monitoring the spread of the coronavirus disease 2019 (COVID-19) and its impact on markets and economic conditions.
February 19, 2020 The Bank of Canada is pleased to announce the 2019-2020 recipients of its scholarship awards for women, Indigenous students and students with disabilities.
February 18, 2020 The Bank of Canada will take over the responsibility for publishing the Canadian Overnight Repo Rate Average (CORRA), effective Monday, June 15, 2020.
February 10, 2020 The University of British Columbia has won the Bank of Canada’s fifth annual Governor’s Challenge, a national student competition in which teams simulate the role of advisor to the Bank’s Governing Council.
February 5, 2020 In remarks to the Economic Club of Canada, Senior Deputy Governor Carolyn A. Wilkins said aging populations and weak productivity gains are holding back prospects in many advanced economies, including Canada’s.
January 29, 2020 Minister of Finance Bill Morneau and Governor Stephen S. Poloz today announced that the Bank of Canada is launching public consultations to select an iconic Canadian to appear on the next $5 bank note.
January 22, 2020 The Bank of Canada today maintained its target for the overnight rate at 1 ¾ percent. The Bank Rate is correspondingly 2 percent and the deposit rate is 1 ½ percent.