April 15, 2020
Monetary Policy Report – April 2020
Canada’s economy faces two significant shocks—the plunge in global oil prices and the impact of the COVID-19 pandemic.
Key Interest Rate
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March 4, 2020
Bank of Canada lowers overnight rate target to 1 ¼ percent
The Bank of Canada today lowered its target for the overnight rate by 50 basis points to 1 ¼ percent. The Bank Rate is correspondingly 1 ½ percent and the deposit rate is 1 percent. -
January 22, 2020
Bank of Canada maintains overnight rate target at 1 ¾ percent
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. -
January 22, 2020
Monetary Policy Report – January 2020
The Bank projects that growth in the Canadian economy will accelerate from 1.6 percent this year to 2 percent in 2021. -
December 4, 2019
Bank of Canada maintains overnight rate target at 1 ¾ percent
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. -
October 30, 2019
Bank of Canada maintains overnight rate target at 1 ¾ percent
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. -
October 30, 2019
Monetary Policy Report – October 2019
The Bank projects that Canadian economy will grow by 1.5 percent this year, 1.7 percent in 2020 and 1.8 percent in 2021. -
September 4, 2019
Bank of Canada maintains overnight rate target at 1 ¾ percent
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. -
July 10, 2019
Bank of Canada maintains overnight rate target at 1 ¾ percent
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. -
July 10, 2019
Monetary Policy Report – July 2019
The Bank updated its forecast for real economic growth to 1.3 percent this year, 1.9 percent next year and 2.0 percent in 2021.