Today, the 2020-21 Debt Management Strategy Consultations Summary and the Government of CanadaReal Return Bond Consultations Summary are being published.
These Rules serve as policy guidelines and administrative procedures for financial institutions and financial market infrastructures seeking to obtain loans (advances) from the Bank of Canada.
This unscheduled rate decision brings the policy rate to its effective lower bound, to provide support to the Canadian financial system and to the economy during the COVID-19 pandemic.
The Bank of Canada today lowered its target for the overnight rate by 50 basis points to ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. This unscheduled rate decision brings the policy rate to its effective lower bound and is intended to provide support to the Canadian financial system and the economy during the COVID-19 pandemic.