June 21, 2023
News
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June 8, 2023
Adjusting to higher interest rates
Speaking a day after we raised interest rates, Deputy Governor Paul Beaudry talks about what Governing Council considered in its decision. He also suggests reasons why long-term interest rates could remain higher than they were before the COVID-19 pandemic. -
June 7, 2023
Bank of Canada raises policy rate 25 basis points, continues quantitative tightening
The Bank of Canada today increased its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. -
May 25, 2023
New exhibition Money in 10 Questions: Kids Edition opens at the Bank of Canada Museum
The Bank of Canada Museum is inviting children to visit a new exhibition that is inspired by questions they have about money. Money in 10 Questions: Kids Edition is a play-based experience that helps children understand money and how to handle it. The exhibit opens to the public on May 25 and includes special activities for families.
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May 23, 2023
Bank of Canada Museum announces 2023 recipients of Award for Excellence in Teaching Economics
The Bank of Canada Museum is honouring two outstanding educators for their exceptional work in teaching students about the economy. -
May 18, 2023
Release of the Financial System Review
Press conference following the release of the Financial System Review. -
May 18, 2023
Financial System Review—2023
The adjustment to higher interest rates is exposing vulnerabilities in the global financial system. Recent banking sector stresses serve as a reminder that risks can arise and spread quickly. Key areas of concern are bank funding, liquidity in fixed income markets, and households’ ability to service their debts. Other financial system concerns relate to cyber attacks, climate change and cryptoasset markets. -
May 12, 2023
Rhys Mendes appointed as Deputy Governor of the Bank of Canada
The Board of Directors of the Bank of Canada today announced the appointment of Rhys R. Mendes as Deputy Governor, effective July 17, 2023. -
May 8, 2023
Bank of Canada launches public consultations on a digital dollar
The Bank of Canada is launching an online public consultation on the features that could be included in a digital Canadian dollar. -
May 4, 2023
Getting inflation back to 2%
Governor Tiff Macklem explains that higher interest rates are working to slow inflation but warns that getting all the way back to the 2% target may take time. He also discusses the recent stress in the global banking sector and how financial stability and price stability work together.