October 29, 2024 Sustaining our resilience The Bank’s operations play a crucial role in enabling our work on behalf of Canada’s economy and financial system. Moving forward, we must be nimble in our decision-making and work efficiently to fulfill our mandate. At the same time, it is critical that we maintain the continuity of our operations while safeguarding against potential disruptions and threats. We must also ensure we have timely, relevant data at our fingertips to advance the opportunities that matter most to Canadians.
October 29, 2024 Equipping our workforce for the future The Bank’s success in responding to change, and anticipating what comes next, is driven by its people. Our workforce must constantly learn and adapt to navigate the best path forward with confidence and skill. That means enhancing and reinforcing our leadership capabilities. It also means leveraging our diversity to encourage fresh ideas and different points of view. And it means fostering a shared understanding of the Bank’s distinct culture and how it shapes our efforts to carry out our strategy.
How do Canadians perceive access to cash? Staff analytical note 2024-24 Heng Chen, Daneal O’Habib, Hongyu Xiao This paper introduces a subjective measure of cash accessibility in Canada, complementing existing distance-based metrics developed by Chen, O’Habib and Xiao (2023). Analyzing data from the 2023 Methods-of-Payment Survey, this study explores how Canadians perceive their ease of accessing cash from automated banking machines (ABMs) and financial institution branches. Content Type(s): Staff research, Staff analytical notes JEL Code(s): J, J1, J15, O, O1, R, R5, R51 Research Theme(s): Money and payments, Cash and bank notes
October 23, 2024 Bank of Canada reduces policy rate by 50 basis points to 3¾% Media Relations Ottawa, Ontario The Bank of Canada today reduced its target for the overnight rate to 3¾%, with the Bank Rate at 4% and the deposit rate at 3¾%. Content Type(s): Press, Press releases
October 23, 2024 Monetary Policy Report—October 2024 Monetary policy has worked to reduce price pressures in the Canadian economy. Inflation is now around 2% and is expected to remain near the middle of the Bank of Canada’s control range of 1% to 3% over the projection. Content Type(s): Publications, Monetary Policy Report
October 23, 2024 Monetary Policy Report—October 2024—Risks The Bank of Canada sees both upside and downside risks to the inflation outlook, but the base-case scenario is considered the most likely outcome.
October 23, 2024 Monetary Policy Report—October 2024—Overview Monetary policy has worked to reduce price pressures in the Canadian economy. Inflation is now around 2% and is expected to remain near the middle of the Bank of Canada’s control range of 1% to 3% over the projection.
October 23, 2024 Monetary Policy Report—October 2024—In focus: Prices change all the time, and some change more often than others. How often prices change can affect how quickly shifts in economic conditions affect inflation.
October 23, 2024 Monetary Policy Report—October 2024—Projections Economic growth in Canada is forecast to pick up gradually. Inflation is expected to remain around 2% as core inflation slows.