A table of indicators related to the implementation of monetary policy that includes the operating band, settlement balances and other Bank of Canada operations.
Monetary Policy Implementation
Lynx Settlement Balances
|Daily Target Rate Intervention (Settlement Date Effect)|
|Overnight Repos (OR) ($M)||0.0||0.0||0.0||0.0||0.0|
|Overnight Reverse Repos (ORR) ($M)||0.0||0.0||0.0||0.0||3,589.0|
|Other Bank of Canada Operations (Settlement Date Effect)|
Note: Effective March 23, 2020, reflecting the scale of liquidity operations the Bank is undertaking and the associated increases in settlement balances, the Bank is adjusting its operating framework for the implementation of monetary policy until further notice. The operating band is narrowed to 25 basis points compared to the normal 50 basis points, and the deposit rate will be set to the current target for the overnight rate. The Bank also will not be targeting a specific level of settlement balances.