April 21, 2021
Bank of Canada statement on Monetary Policy Report embargo breach
The Bank of Canada expects all media organizations to respect the embargo conditions for its key publications.
Key Interest Rate
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April 21, 2021
Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, adjusts quantitative easing program
The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. -
April 21, 2021
Monetary Policy Report – April 2021
As the economy recovers from the COVID-19 pandemic, the Bank is forecasting growth of around 6 ½ percent this year, slowing to about 3 ¾ percent in 2022 and 3 ¼ percent in 2023. -
March 10, 2021
Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, continues quantitative easing
The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank is maintaining its extraordinary forward guidance, reinforced and supplemented by its quantitative easing (QE) program, which continues at its current pace of at least $4 billion per week. -
January 20, 2021
Bank of Canada will hold current level of policy rate until inflation objective is achieved, continues quantitative easing
The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. -
January 20, 2021
Monetary Policy Report – January 2021
While a second wave of COVID-19 is hurting Canadians now, the economy should rebound strongly later in the year. The Bank is forecasting growth of around 4 percent this year and close to 5 percent in 2022. -
December 9, 2020
Bank of Canada will maintain current level of policy rate until inflation objective is achieved, continues its quantitative easing program
The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. -
October 28, 2020
Bank of Canada will maintain current level of policy rate until inflation objective is achieved, recalibrates its quantitative easing program
The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. -
October 28, 2020
Monetary Policy Report – October 2020
The Bank expects Canada’s economy to grow by almost 4 percent on average in 2021 and 2022, following a decline of about 5 ½ percent in 2020. -
September 9, 2020
Bank of Canada maintains commitment to current level of policy rate, continues program of quantitative easing
The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. The Bank is also continuing its quantitative easing (QE) program, with large-scale asset purchases of at least $5 billion per week of Government of Canada bonds.