Posts

• October 23, 2024

  Bank of Canada reduces policy rate by 50 basis points to 3¾%

  Media Relations Ottawa, Ontario

  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%.

  Content Type(s): Press, Press releases
• 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.

  Content Type(s): Publications, Monetary Policy Report
• October 23, 2024

  Monetary Policy Report Press Conference Opening Statement

  Opening statement Tiff Macklem Ottawa, Ontario

  Governor Tiff Macklem discusses the Monetary Policy Report and the key issues involved in the Governing Council’s deliberations about the monetary policy decision.

  Content Type(s): Press, Speeches and appearances, Opening statements
• October 23, 2024

  Bank of Canada interest rate announcement and release of the Monetary Policy Report

  On Wednesday, October 23, 2024, the Bank of Canada will announce its decision on the target for the overnight rate. A press release will provide a brief explanation of the decision. The Bank will also publish its quarterly Monetary Policy Report (MPR) at the same time as the rate decision.

  Content Type(s): Press, Media advisories

• Beyond the averages: Measuring underlying wage growth using Labour Force Survey microdata

  Staff Analytical Note 2024-23 Fares Bounajm, Tessa Devakos, Gabriela Galassi

  When it comes to understanding the influence of labour costs on inflation, average wage growth is a misleading indicator because it is affected by composition effects. We propose an alternative measure that corrects for these effects by using microdata from the Labour Force Survey. Our new measure has many desirable properties, including reduced volatility and a better relationship with labour market fundamentals.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Econometric and statistical methods, Labour markets JEL Code(s): C, C3, C31, J, J2, J21, J3, J30, J31, J8, J82
• October 17, 2024

  Conference on Real-Time Data Analysis, Methods and Applications

  The Bank of Canada is hosting the annual Conference on Real-Time Data Analysis, Methods and Applications in Macroeconomics and Finance at its Head Office in Ottawa on October 17 and 18, 2024.

  Content Type(s): Conferences and workshops
• October 16, 2024

  Entering into a compliance agreement with the Bank of Canada

  This supervisory policy addresses why the Bank of Canada may offer a compliance agreement to a payment service provider (PSP), the process for entering into a compliance agreement with the Bank of Canada, and what PSPs should expect if they enter into this type of agreement.

  Content Type(s): Retail payments supervision materials, Supervisory policies Topic(s): Enforcement
• October 16, 2024

  Annual reporting of retail payment activity metrics

  This supervisory policy outlines the retail payment activity metrics that payment service providers must report as part of the annual reporting form.

  Content Type(s): Retail payments supervision materials, Supervisory policies Topic(s): Reporting, Supervision
• October 16, 2024

  Annual reporting

  This supervisory policy provides an overview of annual reporting requirements and clarifies how the Bank of Canada expects payment service providers to comply with those requirements.

  Content Type(s): Retail payments supervision materials, Supervisory policies Topic(s): Reporting, Supervision
• October 16, 2024

  Reporting of retail payment activity metrics at registration

  This supervisory policy outlines the retail payment activity metrics that payment service providers must report at registration.

  Content Type(s): Retail payments supervision materials, Supervisory policies Topic(s): Registration, Reporting