October 28, 2020 Bank of Canada will maintain current level of policy rate until inflation objective is achieved, recalibrates its quantitative easing program Media Relations Ottawa, Ontario The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. Content Type(s): Press, Press releases
October 19, 2020 CARR’s mandate expanded to include analysis of CDOR The Canadian Fixed Income Forum (CFIF) has expanded the mandate of the Canadian Alternative Reference Rate working group (CARR) to include an analysis of the Canadian Dollar Offered Rate (CDOR). Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
October 19, 2020 The Bank of Canada launches the CORRA Advisory Group Earlier this year, the Bank of Canada became the administrator of the Canadian Overnight Repo Rate Average (CORRA) and since June has published this Canadian interest rate benchmark on its website using an improved methodology. Content Type(s): Press, Market notices Source(s): CORRA Advisory Group
October 19, 2020 Operational details for upcoming secondary market purchases of Government of Canada securities (October 26-November 6) As previously announced, the Bank of Canada (the Bank) launched on April 1, 2020 a program to purchase Government of Canada securities in the secondary market – the Government Bond Purchase Program (GBPP). Content Type(s): Press, Market notices Source(s): Government of Canada Bond Purchase Program
October 15, 2020 Bank of Canada announces changes to programs that support key financial markets As overall financial market conditions continue to improve in Canada, usage in several of the Bank of Canada’s programs that support the functioning of key financial markets has declined significantly. Content Type(s): Press, Market notices Source(s): Bankers’ Acceptance Purchase Facility, Canada Mortgage Bond Purchase Program, Term repo operations
October 9, 2020 Central banks and BIS publish first central bank digital currency (CBDC) report laying out key requirements Media Relations Ottawa, Ontario This joint press release announces the publication of a report identifying the foundational principles necessary for any publicly available central bank digital currencies to help central banks meet their public policy objectives. Content Type(s): Press, Press releases Research Topic(s): Digital currencies and fintech
October 8, 2020 COVID‑19 and the financial system Speech summary Tiff Macklem Global Risk Institute Toronto, Ontario Governor Tiff Macklem discusses financial risks from the COVID-19 pandemic that are affecting our economy and that could shape how well it recovers. He also talks about financial risks from climate change. Content Type(s): Press, Speeches and appearances, Speech summaries Research Topic(s): Climate change, Coronavirus disease (COVID-19), Financial services, Financial stability, Monetary policy
October 8, 2020 From COVID to climate—the importance of risk management Remarks (delivered virtually) Tiff Macklem The Global Risk Institute Toronto, Ontario Governor Tiff Macklem discusses the importance of financial risk management as Canada recovers from the pandemic, and as it deals with issues like climate change. Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Climate change, Coronavirus disease (COVID-19), Financial services, Financial stability, Monetary policy