January 29, 2025
Bank of Canada Media Interview – Le Devoir
Tiff Macklem, Governor of the Bank of Canada, gave an interview to Clémence Pavic of Le Devoir.
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January 29, 2025
Bank of Canada announces an adjustment to the deposit rate and some changes to terms and conditions for Overnight Reverse Repo Operations
The Bank announced it is making an adjustment to the deposit rate. Effective January 30, the deposit rate will be set at a spread of 5bps below the Bank’s policy interest rate. -
January 29, 2025
Bank of Canada provides operational details for restarting asset purchases to end quantitative tightening
Today, the Bank of Canada is announcing its plan to complete its balance sheet normalization, ending quantitative tightening. -
January 29, 2025
Bank of Canada reduces policy rate by 25 basis points to 3%, announces end of quantitative tightening
The Bank of Canada today reduced its target for the overnight rate to 3%, with the Bank Rate at 3.25% and the deposit rate at 2.95%. -
January 29, 2025
Monetary Policy Report—January 2025
Economic growth has ticked up in Canada, boosted by past cuts in interest rates. In the absence of new tariffs, growth is forecast to strengthen, and inflation remains close to 2%. But the threat of new tariffs is causing major uncertainty. -
January 29, 2025
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. -
January 29, 2025
Bank of Canada interest rate announcement and release of the Monetary Policy Report
On Wednesday, January 29, 2025, 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. -
January 29, 2025
Interest Rate Announcement and Monetary Policy Report
09:45 (ET)
On eight scheduled dates each year, the Bank of Canada announces the setting for the overnight rate target in a press release explaining the factors behind the decision. Four times a year, Governing Council presents the Monetary Policy Report: the Bank’s base-case projection for inflation and growth in the Canadian economy, and its assessment of risks. -
January 20, 2025
Business Outlook Survey—Fourth Quarter of 2024
Results from the Business Outlook Survey and the Business Leaders’ Pulse show that overall business conditions remain subdued, but firms are beginning to anticipate improvements in activity. Sales outlooks continue to show signs of improvement after a period of weakness. Yet many businesses still have spare capacity, which is reducing their need to expand. Firms expect cost growth, including wages, to soften further. Expectations for inflation moved slightly higher but remain within the Bank of Canada’s target range. -
January 20, 2025
Canadian Survey of Consumer Expectations—Fourth Quarter of 2024
Results from the CSCE show that consumer sentiment improved this quarter, mainly due to recent interest rate cuts and the expectation of further cuts ahead. Consumers reported stronger spending plans. Still, they reported that high prices of many goods and services, economic uncertainty and elevated housing costs continue to weigh on spending decisions. Consumer confidence in the labour market has weakened and is now slightly below the survey average. Consumers’ inflation expectations have largely returned to historical norms.