June 4, 2025 Bank of Canada Media Interview – Midi info Tiff Macklem, Governor of the Bank of Canada, will speak to Alec Castonguay of Ici Radio-Canada Première’s Midi info at around 12:10 p.m. (ET). Content Type(s): Press, Media advisories
June 4, 2025 Bank of Canada holds policy rate at 2¾% Media Relations Ottawa, Ontario The Bank of Canada today maintained its target for the overnight rate at 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%. Content Type(s): Press, Press releases
June 4, 2025 Monetary Policy Decision Press Conference Opening Statement Opening statement Tiff Macklem Ottawa, Ontario Governor Tiff Macklem discusses key issues involved in the Governing Council’s deliberations about the monetary policy decision. Content Type(s): Press, Speeches and appearances, Opening statements
June 4, 2025 Bank of Canada Interest Rate Announcement On Wednesday, June 4, 2025, the Bank of Canada will announce its decision on the target for the overnight rate. A press release will provide a brief explanation of the decision. Content Type(s): Press, Media advisories
June 4, 2025 Interest Rate Announcement 09:45 (ET) On eight scheduled dates each year, the Bank of Canada announces the setting for the overnight rate target in a press release explaining the factors behind the decision. Content Type(s): Upcoming events
May 30, 2025 Update on Changes to Canada’s Debt Distribution Framework The Bank of Canada and the Government of Canada (GoC) are announcing that adjustments to the GoC’s Debt Distribution Framework will come into effect on September 2, 2025. Content Type(s): Press, Market notices
May 30, 2025 Details on the reopening of off-the-run Government of Canada nominal bonds This document presents the operational details pertaining to reopening off-the run Government of Canada (GoC) nominal bonds.
The Optimum Quantity of Central Bank Reserves Staff Working Paper 2025-15 Jonathan Witmer This paper analyzes the optimal quantity of central bank reserves in an economy where reserves and other financial assets provide liquidity benefits. Using a static model, I derive a constrained Friedman rule that characterizes the socially optimal level of reserves, demonstrating that this quantity is neither necessarily large nor small but depends on the marginal benefits of reserves relative to alternative safe assets. Content Type(s): Staff research, Staff working papers Research Topic(s): Financial institutions, Financial markets, Financial system regulation and policies, Monetary policy implementation JEL Code(s): E, E4, E41, E42, E5, E58, G, G2, G21, G28
May 23, 2025 Bank of Canada Media Interview – The New York Times Tiff Macklem, Governor of the Bank of Canada, gave an interview to Alan Rappeport and Ian Austen of the The New York Times. Content Type(s): Press, Media advisories