March 13, 2020 Canada outlines measures to support the economy and the financial sector Today, Minister of Finance Bill Morneau, Governor of the Bank of Canada Stephen Poloz, and Superintendent of Financial Institutions Jeremy Rudin outlined a coordinated package of measures being taken by financial sector partners to support the functioning of markets and continued access to financing for Canadian businesses. Content Type(s): Press, Press releases
March 13, 2020 Bank of Canada lowers overnight rate target to ¾ percent Media Relations Ottawa, Ontario 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. Content Type(s): Press, Press releases
March 13, 2020 Bank of Canada’s Intention to Introduce a Bankers’ Acceptance Purchase Facility In order to support the continuous functioning of financial markets, the Bank of Canada (Bank) is announcing its intention to launch the Bankers’ Acceptance Purchase Facility (BAPF). Content Type(s): Press, Market notices Source(s): Bankers’ Acceptance Purchase Facility
March 13, 2020 Press Conference Opening Statement – March 13, 2020 Opening statement Stephen S. Poloz Ottawa, Ontario The Bank of Canada is contributing to the collective effort to support the Canadian economy and financial system, and to ensure credit channels remain open. Content Type(s): Press, Speeches and appearances, Opening statements Research Topic(s): Coronavirus disease (COVID-19)
March 12, 2020 Bank of Canada Announces the Expansion of its Bond Buyback Program and Term Repo Operations In order to support the continuous functioning of financial markets through the provision of liquidity, the Bank of Canada announced two measures today. Content Type(s): Press, Market notices Source(s): Term repo operations
March 9, 2020 Bank of Canada announces members of Advisory Council for next $5 bank note Media Relations Ottawa, Ontario The independent Advisory Council will develop a short list of iconic Canadians who could be featured on the next bank note. Content Type(s): Press, Press releases
March 5, 2020 Labour market is key to Canada’s resilience Speech summary Stephen S. Poloz Women in Capital Markets Toronto, Ontario Governor Stephen S. Poloz talks about how the labour market is a key source of resilience for Canada’s economy and reviews the Bank of Canada’s decision to lower interest rates. Content Type(s): Press, Speeches and appearances, Speech summaries Research Topic(s): Coronavirus disease (COVID-19), Interest rates, Labour markets, Monetary policy, Recent economic and financial developments
March 5, 2020 Economic Progress Report: We All Have Work to Do Remarks Stephen S. Poloz Women in Capital Markets Toronto, Ontario Governor Stephen S. Poloz discusses the Bank’s latest interest rate announcement as well as Canada’s labour market—an important source of economic resilience. Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Coronavirus disease (COVID-19), Interest rates, Labour markets, Monetary policy, Recent economic and financial developments