April 15, 2020 Bank of Canada maintains overnight rate target and unveils new market operations Media Relations Ottawa, Ontario The Bank of Canada today maintained its target for the overnight rate at ¼ percent, which the Bank considers its effective lower bound. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. The Bank also announced new measures to provide additional support to Canada’s financial system. Content Type(s): Press, Press releases
October 25, 2023 Bank of Canada maintains policy rate, continues quantitative tightening Media Relations Ottawa, Ontario The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. Content Type(s): Press, Press releases
July 30, 2025 Monetary Policy Report—July 2025—Global economy Global growth has slowed since the start of 2025 amid the ongoing shifts in US trade policy and the resulting uncertainty. Still, the global economy has remained resilient so far, even though US tariffs are at their highest levels in decades.
July 15, 2026 Bank of Canada maintains the policy rate at 2¼% Media Relations Ottawa, Ontario The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. Content Type(s): Press, Press releases
September 28, 2009 Initial Success Should Not Give Way to Complacency, Governor Carney Says Media Relations Victoria, British Columbia While there are renewed signs of economic growth in Canada and around the world, Bank of Canada Governor Mark Carney urged today that this initial success should not give way to complacency. Content Type(s): Press, Press releases
April 12, 2011 Bank of Canada maintains overnight rate target at 1 per cent Media Relations Ottawa, Ontario The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. Content Type(s): Press, Press releases
The Complex Adjustment of the Canadian Economy to Lower Commodity Prices Staff analytical note 2016-1 Julien Champagne, Nikita Perevalov, Hope Pioro, Dany Brouillette, Andrew Agopsowicz In this analytical note, we provide a comprehensive assessment of the complex structural adjustment facing the Canadian economy following the commodity price decline since mid-2014. We quantify separately the impacts coming from the commodity sector restructuring and the broader effect of significantly lower terms of trade. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E1, E17, E2, E27, E5, E52, J, J2, Q, Q0, Q00 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Real economy and forecasting, Structural challenges, International trade, finance and competitiveness
May 13, 2014 Beyond the Unemployment Rate: Assessing Canadian and U.S. Labour Markets Since the Great Recession Bank of Canada Review - Spring 2014 Konrad Zmitrowicz, Mikael Khan This article provides a broad perspective on the performance of the labour market in Canada and the United States since the Great Recession. It also presents a simple way to summarize much of this information in a single composite labour market indicator (LMI) for both countries. The LMI suggests that the unemployment rate in Canada has evolved largely in line with overall labour market conditions since the recession, but may have modestly overstated the extent of recent improvement. The U.S. unemployment rate, in contrast, appears to have substantially overstated the post-recession improvement in labour market conditions. Content Type(s): Publications, Bank of Canada Review articles JEL Code(s): E, E2, E24, J, J2, J21, J23
June 12, 2017 Canadian economy showing encouraging signs, says Senior Deputy Governor Wilkins Media Relations Winnipeg, Manitoba With the adjustment to lower oil prices largely behind us, there are encouraging signs that growth is broadening across regions and sectors, Senior Deputy Governor Carolyn A. Wilkins told the Associates of the Asper School of Business in a speech today. Content Type(s): Press, Press releases
Measuring and Evaluating Strategic Communications at the Bank of Canada Staff discussion paper 2021-9 Annie Portelance The Bank of Canada’s Communications Department has developed a framework to quantify and qualify the Bank’s communications efforts and their results. Using data-based measurement and evaluation, the department can assess the impact of the Bank’s communications activities and gauge the department’s contribution to the Bank’s overall goals. Content Type(s): Staff research, Staff discussion papers JEL Code(s): D, D8, D83 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Monetary policy, Monetary policy framework and transmission