News
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October 23, 2024
Bank of Canada reduces policy rate by 50 basis points to 3¾%
The Bank of Canada today reduced its target for the overnight rate to 3¾%, with the Bank Rate at 4% and the deposit rate at 3¾%. -
October 23, 2024
Monetary Policy Report—October 2024
Monetary policy has worked to reduce price pressures in the Canadian economy. Inflation is now around 2% and is expected to remain near the middle of the Bank of Canada’s control range of 1% to 3% over the projection.
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October 23, 2024
Monetary Policy Report Press Conference Opening Statement
Governor Tiff Macklem discusses the Monetary Policy Report and the key issues involved in the Governing Council’s deliberations about the monetary policy decision. -
October 11, 2024
Business Outlook Survey—Third Quarter of 2024
Results from the Business Outlook Survey and the Business Leaders’ Pulse show that inflationary pressures continue to ease. Firms feel appropriately equipped to meet current and anticipated soft demand. Their investment and hiring plans are therefore modest. Expectations for growth in wages, input costs and selling prices have continued to normalize as inflation has come down. -
October 11, 2024
Canadian Survey of Consumer Expectations—Third Quarter of 2024
Consumers’ perceptions of current inflation and their expectations for inflation over the next year have declined this quarter, although they remain higher than they were before the COVID‑19 pandemic. Perceptions of financial stress have improved. And, given recent interest rate cuts and lower inflation, fewer consumers reported reducing their spending. However, consumers expect interest rates to remain elevated, which is affecting their spending decisions. Perceptions of the labour market have weakened further, with young consumers reporting a more pronounced deterioration than others. Still, overall, job prospects are close to survey averages. -
October 10, 2024
Bank of Canada to begin publishing web-based Monetary Policy Report
The Bank of Canada will begin releasing its Monetary Policy Report (MPR) as an interactive, web-based publication on October 23, 2024. -
October 3, 2024
Bank of Canada Board launches process to appoint additional external Deputy Governor
The Board of Directors of the Bank of Canada has initiated a recruitment process to fill a new external Deputy Governor position. The Board has formed a selection committee to spearhead the selection process and has retained recruitment firm Boyden to assist with the open external search process. -
October 1, 2024
The Bank of Canada Museum launches a new free educational resource “You Are the Economy”
The Bank of Canada Museum is excited to introduce “You Are the Economy,” a comprehensive suite of six free lesson plans on economic and financial literacy for Grade 7–12 students across Canada.