News

• April 20, 2023

  Opening Statement before the Standing Senate Committee on Banking, Commerce and the Economy

  Opening statement Tiff Macklem Standing Senate Committee on Banking, Commerce and the Economy Ottawa, Ontario

  Content Type(s): Press, Speeches and appearances, Opening statements
• April 18, 2023

  Opening Statement before the House of Commons Standing Committee on Finance

  Opening statement Tiff Macklem House of Commons Standing Committee on Finance Ottawa, Ontario

  Content Type(s): Press, Speeches and appearances, Opening statements
• April 12, 2023

  Monetary Policy Report Press Conference Opening Statement

  Opening statement Tiff Macklem Ottawa, Ontario

  Governor Tiff Macklem discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR.

  Content Type(s): Press, Speeches and appearances, Opening statements
• April 12, 2023

  Bank of Canada maintains policy rate, continues quantitative tightening

  Media Relations Ottawa, Ontario

  The Bank of Canada today held its target for the overnight rate at 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening.

  Content Type(s): Press, Press releases
• April 12, 2023

  Monetary Policy Report – April 2023

  

  Inflation in Canada remains high but should come down quickly to around 3% in the middle of this year because of lower energy prices, improved supply chains and restrictive monetary policy. The Bank projects that inflation will reach the 2% target by the end of 2024.

  Content Type(s): Publications, Monetary Policy Report
• April 4, 2023

  Deputy Governor Paul Beaudry to leave the Bank of Canada

  Media Relations Ottawa, Ontario

  The Bank of Canada announced today that Deputy Governor Paul Beaudry will leave the Bank at the end of July 2023. Mr. Beaudry will return to his academic position at the University of British Columbia.

  Content Type(s): Press, Press releases
• April 3, 2023

  Business Outlook Survey—First Quarter of 2023

  Results from the first-quarter 2023 Business Outlook Survey and the Business Leaders’ Pulse surveys from January through March 2023 show a subdued sales outlook and plans for modest growth in capital expenditures. The labour market remains tight, but pressures have eased from high levels.

  Content Type(s): Publications, Business Outlook Survey
• April 3, 2023

  Canadian Survey of Consumer Expectations—First Quarter of 2023

  Results in the first quarter of 2023 show that consumer expectations for inflation one to two years ahead fell but remain elevated, particularly for services. Consumers, especially indebted households and equity-deserving groups, are facing financial pressures and limits on their spending due to high inflation and increasing interest rates. Consumers expect to spend less on discretionary services, such as travelling and eating out. Canadians continue to anticipate a recession in the next 12 months. Many are uncertain about where the economy and job markets are going. Despite this, workers still see the labour market as strong and expect wage growth to increase.

  Content Type(s): Publications, Canadian Survey of Consumer Expectations
• March 29, 2023

  Lessons from our support of financial markets in tough times

  Speech summary Toni Gravelle National Bank Financial Services Conference Montréal, Quebec

  Deputy Governor Toni Gravelle talks about how the Bank of Canada supported markets during the COVID-19 pandemic and what we might do differently in the future. He also discusses recent turmoil in the banking system in the United States and overseas.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Coronavirus disease (COVID-19), Financial markets, Financial stability, Lender of last resort, Recent economic and financial developments
• March 22, 2023

  Summary of Governing Council deliberations: Fixed announcement date of March 8, 2023

  This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on March 8, 2023.

  Content Type(s): Publications, Summary of deliberations