Bank of Canada Governor Stephen S. Poloz discusses the forces fuelling the differences between the hot - and not so hot - sectors of the economy and regions of the country.
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.
Economic growth in Canada is expected to average about 2 1/2 per cent in 2014 and 2015 before easing to around the 2 per cent growth rate of the economy’s potential in 2016.
The Board of Directors of the Bank of Canada today announced that Carolyn Wilkins has been appointed Senior Deputy Governor for a term of seven years beginning 2 May 2014.
The spring Business Outlook Survey offers encouraging signs for the economic outlook, although responses indicate that headwinds from intense competition and domestic uncertainty persist.
2013 proved to be a challenging year for the Bank of Canada. Inflation continued to drift below target, and the economy failed to move onto a more sustainable track. The 2013 Annual Report highlights key achievements over the year, describes the Bank’s corporate governance, and presents the financial statements in conjunction with Management’s Discussion and Analysis.