April 13, 2016 Bank of Canada maintains overnight rate target at 1/2 per cent Media Relations Ottawa, Ontario The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent. Content Type(s): Press, Press releases
November 14, 2018 Bank of Canada launches digital hub for promoting a stable and efficient financial system Media Relations Ottawa, Ontario Today the Bank of Canada launched the Financial System Hub, a dedicated space on the Bank’s website for timely analysis and research on financial stability issues. Content Type(s): Press, Press releases
The Value of Mortgage Choice: Payment Structure and Contract Length Staff working paper 2026-2 Michael Boutros, Nuno Clara, Katya Kartashova We study household mortgage choice in a model with three mortgage contracts that differ in their payment structures: fixed-rate fixed-payment, variable-rate variable-payment, and a hybrid variable-rate fixed-payment mortgage where interest rate changes affect principal repayment rather than payment size. We calibrate the model to match mortgage choice patterns in Canada, where all these options are offered with short terms. We demonstrate that restricting contract choice or mandating long terms, as in the U.S. system, can lead to substantial welfare losses by limiting risk management strategies and increasing mortgage pricing ex-ante. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D1, D14, E, E2, E21, G, G1, G18, G2, G21, G5, G51 Research Theme(s): Financial system, Financial institutions and intermediation, Household and business credit
May 28, 1998 Opening Statement before the House of Commons Standing Committee on Finance Opening statement Gordon Thiessen House of Commons Standing Committee on Finance Mr. Chairman, my colleagues and I are pleased to appear before your committee on a regular basis following the release of the Bank of Canada's Monetary Policy Report. It gives us a chance to discuss with you a range of economic and monetary issues. More generally, our semi-annual Report and sessions such as this one […] Content Type(s): Press, Speeches and appearances, Opening statements
April 14, 2007 Bank of Canada Review - Spring 2007 Cover page Gas Cards All gas cards pictured here are part of the National Currency Collection of the Bank of Canada. Content Type(s): Publications, Bank of Canada Review
December 8, 2009 Bank of Canada maintains overnight rate target at 1/4 per cent and reiterates conditional commitment to hold current policy rate until the end of the second quarter of 2010 Media Relations Ottawa, Ontario The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. Content Type(s): Press, Press releases
January 16, 2025 The end of quantitative tightening and what comes next Remarks Toni Gravelle VersaFi (formerly Women in Capital Markets) Toronto, Ontario Deputy Governor Toni Gravelle provides an update on when quantitative tightening will end and how the Bank of Canada will manage its balance sheet after that. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Financial system, Financial markets, Financial stability, Monetary policy, Economy/Economic growth, Inflation targeting framework
May 30, 1997 Flexible Exchange Rates in a World of Low Inflation Remarks Gordon Thiessen FOREX '97 Conference Toronto, Ontario There is a good deal of discussion these days about Economic and Monetary Union (EMU) in Europe - about the benefits and difficulties of organizing such a union. However, today I would like to examine a somewhat different issue, one that is at the other end of the spectrum; namely, How is the international system of flexible exchange rates working these days? Content Type(s): Press, Speeches and appearances, Remarks
April 22, 2008 Bank of Canada lowers overnight rate target by 1/2 percentage point to 3 per cent Media Relations Ottawa, Ontario The Bank of Canada today announced that it is lowering its target for the overnight rate by one-half of a percentage point to 3 per cent. Content Type(s): Press, Press releases