October 25, 2007 Forecasting Short-Term Economic Developments and the Role of Econometric Models Conference held on 25 and 26 October 2007 (papers in unedited, electronic format only) Content Type(s): Conferences and workshops
January 22, 2020 Bank of Canada maintains overnight rate target at 1 ¾ percent Media Relations Ottawa, Ontario The Bank of Canada today maintained its target for the overnight rate at 1 ¾ percent. The Bank Rate is correspondingly 2 percent and the deposit rate is 1 ½ percent. Content Type(s): Press, Press releases
March 22, 2018 Bank of Canada Announces Lower Target for Settlement Balances to Reinforce the Target for the Overnight Rate Effective Thursday, 22 March 2018, the Bank is reducing the target for the minimum daily level of settlement balances to $250 million, from its current level of $500 million. Content Type(s): Press, Market notices
October 24, 2024 Bank of Canada announces a change to Overnight Repo operations Effective Friday, October 25, 2024, the aggregate cash value amount offered in each Overnight Repo (OR) operation will change to a minimum of $8 billion. Content Type(s): Press, Market notices Source(s): Overnight repo operations
November 20, 2003 Technical Note: Elimination of Retroactive Settlement in the ACSS Bank of Canada Review - Autumn 2003 Eric Tuer Effective 1 November 2003, the Bank of Canada abandoned its practice of backdating the results of settlement of payments through the Automated Clearing Settlement System (ACSS). It has adopted instead a system of "next-day" settlement under which the results of the settlement process will appear on the central bank's books on the day the items actually settle in the ACSS. Since July 1986, settlement of these items had occurred at noon the day after items were presented for clearing, but the results were recognized on the Bank's books the previous day, through backdating, or "retroactive" settlement. The new system should simplify the payments process and improve the reporting of settlement risk, as well as promote cost-effectiveness within the payments systems. ACSS participants have agreed among themselves to implement an interest-compensation mechanism in order to avoid imposing a float charge on their customer base. Content Type(s): Publications, Bank of Canada Review articles
May 12, 2023 Rhys Mendes appointed as Deputy Governor of the Bank of Canada Media Relations Ottawa, Ontario The Board of Directors of the Bank of Canada today announced the appointment of Rhys R. Mendes as Deputy Governor, effective July 17, 2023. Content Type(s): Press, Press releases
January 17, 2025 Bank of Canada releases review of exceptional policy actions taken during the pandemic Media Relations Ottawa, Ontario The Bank of Canada’s exceptional policy actions during the COVID-19 pandemic provided important support for the economy during the unprecedented shock, says a review published today. Content Type(s): Press, Press releases
The International Exposure of the Canadian Banking System Staff working paper 2025-1 Christian Friedrich, Hanno Friedrich, Nick Lawrence, Javier Cortes Orihuela, Phoebe Tian In 2023, the share of Canadian banks’ foreign assets and liabilities amounted to around 50%. While Canadian banks engage domestically mostly with households and non-financial corporations, their most common counterparties abroad are non-bank financial institutions. Content Type(s): Staff research, Staff working papers JEL Code(s): F, F2, F21, F23, F3, F31, F32, G, G2, G21, G23, G3 Research Theme(s): Financial system, Financial institutions and intermediation, Financial stability and systemic risk, Structural challenges, International trade, finance and competitiveness
May 8, 2025 Financial Stability Report—2025 Tiff Macklem, Carolyn Rogers, Toni Gravelle, Sharon Kozicki, Rhys R. Mendes, Nicolas Vincent, Michelle Alexopoulos Canada’s financial system is resilient. Overall, households, businesses, banks and non-bank financial intermediaries successfully weathered the pandemic, a period of elevated inflation, and sharp increases in interest rates. But the trade war currently threatens the Canadian economy and poses risks to financial stability. Content Type(s): Publications, Financial Stability Report
June 25, 2005 Changes in the Indicator Properties of Narrow Monetary Aggregates Bank of Canada Review - Summer 2005 Tracy Chan, Ramdane Djoudad, Jackson Loi Although many countries have abandoned monetary targeting in recent decades, monetary aggregates are still useful indicators of future economic activity. Past research has shown that, compared with other monetary aggregates and expressed in real terms, net M1 and gross M1 have traditionally provided superior leading information for output growth. Content Type(s): Publications, Bank of Canada Review articles