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.
As the economy reopens after the third wave of COVID-19, growth should rebound strongly. The Bank is forecasting growth of about 6 percent this year, slowing to about 4 ½ percent in 2022 and 3 ¼ percent in 2023.
As previously announced, the Bank of Canada (the Bank) launched on April 1, 2020 a program to purchase Government of Canada securities in the secondary market – the Government Bond Purchase Program (GBPP).
The Board of Directors of the Bank of Canada today announced that Carolyn Rogers has been appointed Senior Deputy Governor for a term of seven years beginning December 15, 2021.
The Canadian Alternative Reference Rate working group (CARR) today published the results of its consultation on its proposed methodology for calculating CORRA-in-arrears as well as draft fallback language for floating rate notes (FRNs) that reference CDOR.
The BoC–BoE database of sovereign debt defaults, published and updated annually by the Bank of Canada and the Bank of England, provides comprehensive estimates of stocks of government obligations in default.
Firms with fewer than 100 workers employ about 65 percent of the total labour force in Canada. An online survey experiment was conducted with firms of this size in Canada in 2018–19. We compare the responses of small and micro firms to explore how their characteristics and economic outlooks relate to their size.
Results from the summer Business Outlook Survey point to continued improvement in business sentiment. Firms tied to high-contact services still face challenges but are becoming more confident that sales will pick up as vaccination rates rise. This suggests an important broadening in the recovery ahead.